The State of the Global Construction Industry

Worldwide, the Find A Plumber industry employs more people than any other industry. In flourishing economies, real estate is often the driving force and before the global financial crises that started in 2008 we had one of the biggest construction booms in history. Unfortunately when the crash happened the exact opposite occurred – we had one of the biggest construction crashes in history.
While most people look at the stock market, few recognize the real estate market and how that was impacted. Millions of jobs was lost across the world and in developed countries many large scale Easy Kitchen Refresh building projects came to a grinding halt. This is just one reason why so many people started looking abroad at some developing countries to expand their businesses for the sake of survival.
Construction projects in Africa, India and South East Asia kept many companies afloat and although its not nearly that profitable its definitely been an eye opening experiencing that forced many companies to explore new territory. Some companies even started expanding into places like Iraq to take on contracts to rebuild the war torn country.
One place that’s been a real haven for construction over the last 10 years is Dubai. Although its only starting to show cracks now, it managed to uphold a vigorous and ambitious building program over the last 10 years. Many American and English firms moved their entire operations to the middle east. With lower running costs, more work and more opportunity it definitely made sense.
With Europe and the USA still in a deep economic hole and the Middle East slowing down who knows where the construction industry will turn next. Although there are signs that things are returning to “normal” there is still very little relief for the construction industry. For now government funded work is the main thing to focus on and although it hasn’t got the commercial drive its definitely a way to keep afloat.