$97.7 trillion to be spent on global construction by 2020

Despite all the negative reports surrounding the economy in the press and the future of the construction industry, 2011 has been an excellent year for the industry so far. And it’s about to get even better, as global construction will grow by 67% by 2020.

A new report by Global Construction Perspectives and Oxford Economics predicts that a total of $97.7 TRILLION will be spent construction globally over the next decade.

The construction industry is currently worth an estimated $7.2 trillion worldwide, and the Global Construction 2020 report predicts that the industry will grow by 67% to a staggering $12 trillion by 2020.

So which countries will be responsible for this huge surge in the construction industry? Two of the world’s fastest growing superpowers, China and India. Together, China, India and the USA will contribute more than half of the $4.8 trillion increase.

China is the world’s largest construction market (they overtook the USA in 2010), and will lead the charge for the global construction industry over the next decade.

This is further positive news for the UK construction industry, after the news that the industry grew in February, which came as a surprise to many experts.

What do you think the future holds for the construction industry? Let us know on the Train4TradeSkills Facebook and Twitter pages.

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About Train4tradeSkills

Train4TradeSkills offer the only trade training skills courses that combine three great ways to learn, through a unique blend of book based theory, practical workshops and virtual reality PC based training, to help you qualify you as a plumber, electrician or gas engineer. No other learning provider offers our unique way to study, with full tutor support, easy to follow, step by step modules. Once you complete one part of the course and return your work for marking, the next stage of the course automatically follows. It’s as easy as that. It’s fun, it’s easy to follow... and it can be fitted around your existing work and family commitments!

Posted on March 4, 2011, in construction jobs, construction news, Electrical News, electrician, electrician jobs, plumbing, plumbing jobs, Plumbing News, train4tradeskills and tagged , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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