Rural Economy and Development

Rural Economy and Development Overview

The rural economy has potentials for contributing to the achievement of Sustainable Development Goals 1 – End Poverty; 2 – Zero Hunger; and 8 – Decent work and economic growth. As of 2020, it was reported that approximately 43% (nearly half) of the world’s population lived in rural areas. Although political and economic instability continues to force a significant portion of this population to migrate to bigger cities in search for better living conditions. This is affecting global food production. In agriculture, the contribution of rural communities to food production makes the industry central to rural economy and development. Many rural communities depend on agricultural activities such as crop and livestock farming, fisheries and forestry to survive. It is estimated that smallholder farmers with an ownership of less than 2ha of farmland contribute an average of 75% to global food production. Majority of these smallholder farmers reside in rural communities. This is why agriculture is easily adopted as a tool for rural development.
By contributing to infrastructural development, provision of food, income, employment and poverty alleviation, agriculture contributes to rural economy and development. Agriculture keeps rural communities engaged, earns them income from sales of farm produce, and provides farming households with food. Also, through domestic and international trade, it enables their contributions to national and global economies. However, these communities are often neglected and as such underdeveloped especially in developing countries. It is therefore imperative to formulate and implement policies that facilitate investments in rural communities for improved healthcare, higher educational standards, and other forms of infrastructural development. This way, rural communities are enabled to thrive, and development facilitated. Tengrain Science provides capacity building programmes for farmers to enable improved living standards through agriculture.