How to navigate 2024: Balancing challenge with opportunity

20 February 2024

Across global construction markets, we see uncertainty coming from every direction. Geopolitical turmoil and stubborn inflation, acute skills and materials shortages and tightening sustainability regulation make it a difficult landscape.

These factors – and many more – are driving up construction costs globally. Last year we saw construction costs rise by 3.64%, and we’re anticipating increases across every one of our operating regions in the year ahead.

Cost volatility is a significant challenge for the construction industry, but it is also nothing new. In the five years to 2023, global construction costs have risen by 21%.

Alan Manuel, Group Chief Executive Officer says: “As an industry we need to stop firefighting and work together to deal with this long-term trend. New ways of working, a focus on sustainability and digitisation all present opportunities to thrive, even against a backdrop of uncertainty.”

Our report offers tips on the action you can take to ensure you continue to deliver to scope, on time and on budget. We also look at the construction market in countries around the world, helping you to understand the local picture.

Take the first step towards navigating uncertainty by downloading our report.

A version of the report in German is available here or you can access our Chinese version.