Construction Industry Update Q3, 2014
Today’s construction world requires highly skilled employees / workers that are willing to earn and travel. Research from Accenture says that emerging construction markets have projected revenues of $6.7 trillion by 2020. Asia, Middle East and Europe will constitute 55% of global construction output.
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Having said that, Dubai is one emerging market which includes wonders like Burj Khalifa and Burj Al Arab, drawing thousands of people each year. The entire gulf is also subject to many ongoing projects which engage the best talent from around the world. One of the great construction industry opportunities is the 2022 FIFA World Cup, which is to be held in Qatar. Numbers of projects have been undertaken by the government. A five-year development plan is also supporting the construction industry there.
The United States Labor Department has predicted an overall growth of 2.6% in the construction sector, adding 1.6 million new jobs. With the growing construction more skilled roles are becoming available. The United Kingdom annual Construction Skills Network (CSN) stated that the growth in construction industry between 2014 and 2018 will lead to over 182,000 new jobs, with an average growth of 2.2% per year.
Asia Pacific which is facing another period of strong economic growth is scathing shortage of skilled construction workforce. More than 20,000 jobs are likely to be created. New Zealand too is experiencing skills shortage, with a requirement of 20-30 thousand workers.
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