In June 2013, Research and Markets announced the addition of a brand new construction-related market-research report to its regular studies. The Global Construction Industry Survey 2013-2014 features an analysis of survey data gathered from prominent company representatives and outlines potential industry trends for the next year. If you own a construction company, you can use the report to help you plan ahead from a financial and marketing perspective.
Research and Markets has made the latest iteration of its annual Global Construction Industry Survey available to businesses. The survey's data came from 351 construction company executives—including 84 C-level decision makers—based in North and South America, Africa, the Middle East, Europe, and the Asia-Pacific region. The study gave participants an opportunity to share their professional opinions rather than being a simplistic questionnaire: energy efficiency, carbon taxes, cost-saving tactics, and many other issues were examined in detail.
By exploring topics such as sustainable business practices, financial considerations, and green marketing trends all over the world, the reports based on this survey data gathered by Research and Markets paint a revealing picture of the global construction industry. You can buy the complete study online or in print: however, if you'd rather stick to a synopsis for now, here are a few pertinent tidbits:
- Roughly half of the executive participants identified "market uncertainty," "cost containment," and "retention or recruitment of staff" as vital business concerns for the coming year.
- Around 63 percent of survey respondents in the construction equipment and service sector plan to spend spend more of their marketing budgets on newsletters, emails, social media sites, and networking sites in the future.
- According to survey data, India, China, and the United Arab Emirates appear to have the strongest emergent construction industries in the developing world.
- Perhaps unsurprisingly, 65 percent of participants plan to expand their client base.
- Overall, respondents intended to increase their marketing budgets by approximately 7 percent in an effort to reach business goals.
Elsewhere in the world, survey data from similar business-based reports offer additional industry insights. The Philippines' Business Expectation Survey (BES), for example, recently indicated the potential for increased mainland employment. The island nation experienced a 7.5 percent surge in its economy from April to June 2013 and, as a result, businesses were more optimistic than ever about expansion.
Demand for construction in Hong Kong has also risen significantly: in fact, a 15 percent jump in the area's construction industry output caused a period of inflation in 2012. Its commercial and residential construction sectors are both currently experiencing a boom, made possible in part by increased tourism in the region.
It's always important to plan ahead in the construction business: after all, your company's success is fundamentally linked to the worldwide economy. If you're looking for a new direction, relevant industry survey data can provide creative stimulus and offer alternative viewpoints. The results of the Global Construction Industry Survey 2013-2014 deliver the insider awareness you need to craft your ongoing business strategy with confidence.
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