For the first time, the United States is one of the top 10 most attractive global markets for investment in infrastructure, rising three spots from its 2012 ranking, according to a report based on the ARCADIS Global Infrastructure Investment Index. The index ranks 41 countries by gauging the ease of doing business in each market, tax rates, GDP per capita, government policy, the quality of existing infrastructure and the availability of debt finance.

Improvements across all business indicators and an improved financial environment have increased the appeal of U.S. projects, but one of the major factors is the substantial unmet need to rebuild or maintain aging infrastructure such as public transportation, roads and water systems. Additionally, planners are rethinking how to make cities and communities more resilient to flooding, drought and other challenges.

The report cites estimates from the American Society of Civil Engineers regarding the need to rehabilitate $3.6 trillion in assets by 2020 against a budget forecast of $2 trillion. To bridge that $1.6 trillion gap, government leaders are looking at alternative and private investment models.

Singapore remains the most attractive market in the world for investment in infrastructure, followed by the United Arab Emirates, Qatar and Canada. Argentina, Greece and Venezuela remain at the bottom of the ranking due to issues with managing debt and high inflation.