CATEGORY: Global Perspective
Urbanisation is a mega-trend redefining contemporary life in both developed and emerging markets across the globe. This mass rural-to-urban movement of people and expansion of cities to absorb formerly isolated villages is a relatively recent phenomenon, at least in the developing world.
Small and medium-sized enterprises (SMEs) are the engines of global economic growth and employment, accounting for, on average, 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. In the case of the latter, the rise in the number of SMEs has been crucial to economic diversification and resilience, particularly in countries vulnerable to commodity price fluctuations.
Global food demand is expected to increase by anywhere between 59% to 98% by 2050. However, global freshwater resources are already overstretched due to climate change and soaring population growth, and it is unclear how agricultural production will keep pace with these challenges. In recent years climate-induced water shortages in urban areas have brought water scarcity to the forefront of public debate, as major cities such as São Paulo, Cape Town, Barcelona have found themselves on the brink of major water crises.