GLOBAL WATER SCARCITY AND QUALITY ISSUES AND THEIR IMPACTS ON THE ECONOMY

Ekonomski fakultet Univerziteta u Nišu, Republika Srbija
Serbia

Ekonomski fakultet Univerziteta u Nišu, Republika Srbija
Serbia


Abstract

Water is the fundamental source of life for all human beings on planet Earth. By satisfying physical needs and being useful for many other activities, no form of life would exist without it. Approximately 70% of the Earth's surface is covered by water, but it is a fact that in the 21st century, the quality and quantity of freshwater, i.e., drinking water, is decreasing. A larger part of humanity is affected, especially the countries of North Africa and the Middle East. Forecasts indicate that by the year 2040, people will be left without drinking water. This problem will become one of the biggest and most difficult to solve at a global level, both in terms of the economy as a whole and in individual economic sectors, potentially jeopardizing the continuation of normal human life. The number of people lacking access to drinking water and even technical water is increasing daily, and some of the factors leading to water scarcity are irrigation, excessive water consumption in households, industry, and livestock farming. In this regard, through the initiative of international organizations, as well as voluntary initiatives and the awareness of states and individuals, these problems need to be approached rationally and responsibly in order to prevent wars over water and their impact on the global economy and normal human life. If the resolution of this global problem is not consistently addressed in some way, both in our country and in the world, the 21st century could be marked as the century of water wars.

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