The construction industry grew to a spending value of close to 12 trillion U.S. dollars before the coronavirus pandemic, and is expected to grow by three percent per annum. This includes building projects in real estate either residential or commercial but also in infrastructure or industrial structures. Construction spending data includes cost of labor and materials, architectural and engineering work, and taxes.
The United States has one of the largest construction industries in the world, with their total value of new construction having grown since the global Recession. Between 2019 and 2020, Buenos Aires is expected to the have one of the largest growths in the city’s constructions costs. In 2021, Asia Pacific is expected to have the highest construction industry output in the world.
Here JLL’s sector analysis of construction indicators :
Sources: https://www.statista.com/statistics/788128/construction-spending-worldwide
https://www.us.jll.com
