Well, in a way, water shortages are a myth. There is no less water in the world now than there ever was. In fact, there is probably more water due to global warming and melting polar ice caps. Water doesn't actually leave the Earth, it simply moves in a circle - evaporation, condensation, precipitation - it's all high school geography.
The trouble is, most of the water is in the sea as saltwater. Rivers and lakes are running dry and the water simply follows the usual cycle and ends up in the sea. Saltwater requires desalination before it can be used for drinking or farming and that's expensive, hence the problem.
The problem is poor water management, the right water is simply not getting to the right places or the right people.