BUILDING FOR THE FUTURE
In this post credit crunch world there remains a degree of uncertainty. That said – while we may be waiting a long time to see a financial headline that reads “everything is good”, the business atmosphere is not quite at the wall to wall doom and gloom stage that it was in at the turn of the decade. Trade and investment are getting back on track, deals are being sealed, international payments are being made.
One particular business with a glimmer of prosperity visible is construction. It’s a change in gear that even the layperson can see from a mile off – sometimes literally. Construction cranes are starting to once again become ubiquitous across city skylines, representing a positive sign not only for the firms and contractors involved in the building but for the wider local economies.
The global financial crisis was a terrible time that saw a number of ambitious building projects around the world turn into spectacular failures. In some cases split new office buildings were completed and never occupied, while the sight of a wasteground with a sun faded hoarding featuring an artist’s impression of an exciting new development “due to open 2011” is sadly commonplace.
Now however it seems like those days are behind us and the world is building for the future. In the UK stories like the new high speed rail link and multi-million pound government “City Deals” are never far from the headlines and all of these projects will require huge amounts of manpower and resources. These high profile projects are in addition to a general pressing need for more housing in Britain, and the country’s construction output is expected to grow at 2.1% on average each year until 2025.
The USA also requires more homes – around 20 million of them over the next decade in fact – to meet projected population growth. Meanwhile America’s neighbour to the north Canada is investing heavily in infrastructure projects to right a widely perceived neglect of its highways and sewer systems.
Meanwhile European infrastructure stands high against growing population challenges and to abide construction costs for supporting population growth. This ultimately leads towards growth in employment rate in particular regions due to availability of employment in numerous sectors such as construction, mining, etc on large scale. Furthermore, It will boostthe sales percentage of numerous construction & mining machinery such as gant
Similar scenarios are presenting themselves all over the world. From growth in the mining industries of Chile and Colombia to Qatar’s preparations for the 2022 World Cup, quite simply, things need to be built.
The apparent global building boom presents some serious opportunities. There is scope to take your business into foreign markets and secure some lucrative contracts, while the UK itself has become particularly attractive to sovereign wealth funds from China and the Middle East. Now is the time to ensure you have a suitable currency account and prepare for a new era of international business.