World Bank Highlights $1.6 Trillion Clean-Tech Market Opportunity for SMEs

Small and medium-sized enterprises (SMEs) are a major driver of economic development and job creation, particularly in the developing countries. In comparison to other business sectors, jobs in the clean technology sector are relatively safer, better paid and involve higher skills. Governments as well as private business organizations must turn a strategic focus on the clean-tech sector to realize its full growth potential.

A new World Bank report titled, “Building Competitive Green Industries: the Climate and Clean Technology Opportunity for Developing Countries,” points out that a vast market opportunity to the tune of $1.6 trillion is waiting to be seized in clean technology in the developing countries. According to the report, China with a potential market size of $415 billion, Latin America with $349 billion, and Africa with $235 billion are the largest markets for SMEs in clean technology.

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Image Credit: Flickr via UCL Mathematical and Physical Sciences

Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.