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Facing the Challenges and Opportunities of Navigating 2024 in the Construction Industry
The global construction landscape is fraught with uncertnty, marked by geopolitical tensions, stubborn inflation rates, acute skills shortages, material constrnts, and tightening sustnability regulations. These multifaceted factors contribute to escalating costs throughout our operational regions.
Inflationary pressures on construction have been a persistent issue over the past five years, with global costs rising by 21 since 2018. In 2023 alone, we witnessed a 3.64 increase in construction expenses worldwide. These dynamics pose significant challenges but also present opportunities to transform how we work and operate within the industry.
Alan Manuel, our Group Chief Executive Officer, underscores the need for the sector to move beyond reactive measures: The construction industry must evolve by embracing new working methodologies, prioritizing sustnability, and leveraging digital technologies to build resilience agnst long-term trs.
Our latest report provides strategic guidance for managing cost volatility while ming to deliver projects within specified scopes, timelines, and budgets. It also offers regional insights into the construction markets across different nations, giving you a comprehensive understanding of local conditions.
To navigate through uncertnty in 2024, download our report as your first step toward informed decision-making.
We have also made versions avlable for German and Chinese speakers on our website.
Join us in driving positive change by utilizing this resource to build a sustnable future while overcoming the challenges ahead.
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