Will water bring the world’s economies to its knees? Is a country like Singapore, which is dependent on others for water resources, able to weather these changes?
The World Bank has warned that Global water shortages will deliver a ‘severe hit’ to many economies.The Middle East, north Africa, central Asia and south Asia are due to suffer the biggest economic hit from water scarcity as climate change takes hold. Across the Horn of Africa, millions have been hit by the severe El Niño-related drought. The region is among those projected to take a big hit to GDP by 2050 because of water scarcity.