| WASHINGTON, June 23
WASHINGTON, June 23 Global spending on capital
projects and infrastructure will shift from West to East, and
jump to more than $9 trillion a year by 2025, according to a
forecast released on Monday by accounting firm
The growth will be driven by China, which overtook the
United States as the top spender on capital and infrastructure
in 2009, Pricewaterhouse said. Globally, this investment
spending stood at just $4 trillion in 2012.
"Emerging markets, especially China and other countries in
Asia, without the burden of recovering from a financial crisis,
will see much faster growth in infrastructure spending," Richard
Abadie, global capital projects and infrastructure leader at
Pricewaterhouse, said in a prepared statement.
About $78 trillion is expected to be spent on capital
projects and infrastructure globally between now and 2025,
according to the study.
Availability of funding and government finances, demographic
factors, urbanization and natural resource endowments will all
drive future infrastructure spending, Pricewaterhouse said.
In the United States, capital projects and infrastructure
spending is expected to reach $1 trillion annually by 2025,
growing an average of 3.5 percent a year, according to the firm.
U.S. infrastructure spending will face constraints from
relatively tight government finances, but capital spending
elsewhere will get a lift from the nation's shale oil boom and
investment in telecommunications, it said.
(Reporting by Moriah Costa; Editing by Lisa Shumaker)