When you think of infrastructure, which countries would be in your global top 10? Would you pick a country such as Brazil which is undertaking rapid development ahead of the 2016 Olympics; or perhaps you might pick the UAE which is currently celebrating its national innovation week?
Well, although the UAE comes in at fifth place in the latest Nabarro infrastructure index (up from 12th place in 2013), first place is taken by the UK ahead of Canada, USA and Australia. When the UK took first place in the 2013 index, it scored particularly highly in the areas of ease of doing business and innovation. These areas remain strong and with a more positive tax regime and a strong rate of private participation the UK has moved further ahead of its nearest rival.
There is no reason for complacency however with other countries working hard to improve their own innovation and infrastructure models. With infrastructure, as with every other area of business, those who rely on the status quo will soon find that disruptors are waiting to take their share of the market.
Commenting on the results Lord Adonis, Chair of the National Infrastructure Commission said:
“It is paramount that the UK also identifies and secures a good pipeline for investors. Without it, the Nabarro Infrastructure Index shows that the US and Canada offer equally attractive conditions for infrastructure investment which could threaten the UK’s number one position.”