Turner & Townsend (72 pages).
Now as the post-pandemic recovery gets underway, world leaders are calling for the coming years to be more than just a period of growth – but of renewal and positive change too.
G7 leaders meeting in the UK in June launched ‘Build Back Better World’, a global partnership to improve infrastructure in low- and middle-income countries. Meanwhile, governments around the globe have called on the construction sector to step up and serve as an engine of wider economic growth.
Our 2021 International construction market survey takes stock of how the industry is responding, the challenges it faces – and the rewards on offer.
We’ll examine how the strains imposed by diverging growth rates and intense competition for resources are placing speed bumps in the path of accelerating capital investment. Our regional teams of experts have compiled detailed construction cost and sentiment data from 90 markets around the world, to build up an unmatched picture of how the global supply chain is handling the surge in capital spending.
We pinpoint where these two forces – rapidly rising demand and constrained supply – are colliding to drive up input costs and schedule risk.
As the world’s eyes turn to Tokyo for the delayed Olympic Games, our data reveals that the Japanese capital is the world’s most expensive market to build in.
But the challenging macroeconomic backdrop is only half the story. These are times of change and complexity for large organisations managing diverse capital programmes.
Both public and private sector clients are juggling multiple, competing goals and priorities. From accommodating hybrid working patterns, to embedding social value into their operations and taking concrete steps towards Net Zero, in the new world success is no longer judged by the traditional mantra of ‘better faster, cheaper’.
That’s why this edition of our survey also considers how those responsible for capital assets can tackle overlapping challenges simultaneously - translating enterprise strategy into a programmatic approach which is proven to deliver better outcomes.
Then, as now, governments ignited growth with huge stimulus packages, and private sector investment across the built environment followed, ushering in dramatic, lasting economic and social change.
The post-COVID recovery has the potential to be just as transformative, and the global construction industry should seize this opportunity to deliver more than just growth.