globalEDGE Blog - By Tag: construction

Whether you’re opening a new business, investing in stocks, or trying to keep up with the increasingly advanced and interconnected sectors; we have gathered information on five of the fastest growing industries.

News coverage shows the chaos currently engulfing the Gaza Strip. The Israeli bombardment has so far destroyed 50 factories that previously produced food, textiles, and other goods according to the Vice President of the Palestinian Federation of Industries, Ali Al-Hayek. In addition to the poor economic effects of these attacks, citizen’s homes have also been destroyed. During July’s fighting alone, at least 2,655 homes have been extremely or entirely damaged. Inevitably, Gaza will have to undergo massive reconstruction once the conflict resides, however there are major problems associated with cost and trade that could prevent it from doing so.

With a population of 5.4 million people crammed into 274.1 square miles, the country of Singapore could be considered a slightly smaller version of New York City. The country is a center for business offices, commercial buildings, retail stores, and residential apartments. However, a mounting need for space is becoming imminent as experts project Singapore’s population to grow to 6.9 million people in the next 15 years—a 1.5 million increase. Presently, the struggle for land has caused military camps and old residences to close down in order to make room for residential and industrial real estate development.

Despite stories of economic struggles scattered around Europe, there is some bright news from the United Kingdom. According to financial data, the United Kingdom maintained its 16-month recovery in the construction sector. Strong orders for new building projects and a rise in employment in April have helped sustain construction recovery as well as economic growth. The main demand for this boost of construction output has come from commercial building and civil engineering during the spring months and is expected to be carried forward into the summer. Another major cause of this growth is probably not a surprise to anyone—the 2012 Summer Olympics.

In many of the leading construction markets, the market for sustainable construction is expanding rapidly. This standard started in the mid 2000’s with the introduction of the LEED certification for buildings. LEED stands for Leadership in Energy and Environmental Design and was developed by the United States Green Building Council. This standard has started to transform the construction industry and is now taking off elsewhere in the world as well.

Qatar has said it is looking at spending $100 billion as it is currently trying to revamp its infrastructure in preparation for the 2022 World Cup.  In response to the government of Qatar’s request, the United States government is sponsoring a trade mission to Qatar in June this year.  The country has been growing rapidly and is looking to build multiple new stadiums to host the event.  The growth potential in this country and for this trip is phenomenal.

Lately, Qatar has been working hard to become a distinct country with a refreshed vision. As a matter of fact, its leadership has begun implementing a plan which will help the country arrive at significant goals and transform by the year 2030. In a conversation between Doug Barry, a U.S.-based International Trade Specialist at the Commercial Service and Dao Le, a Qatar-based U.S. diplomat, some of the opportunities for United States Businesses were outlined.

International expansion is certainly no small task for companies around the world.  Recently a success story of a Dome manufacturer highlights a few lessons that can be applied to any product or industry.  Domes International is a United States-based firm that manufactures round structures molded out of fiberglass.  They are used in a variety of applications including housing, offices, schools, military barracks, and warehouses.

The Burj Dubai Towers (now renamed the Burj Khalifa) opened for business this Monday after about six years of construction. At 2,727 feet (828 meters), the tower is the tallest man-made structure in the world, beating out the KVLY-TV mast in Blanchard, North Dakota, United States and the Guangzhou TV & Sightseeing Tower in Guangzhou, China (which was topped-out in 2009 at 610 meters). Check out this video from Al Jazeera for an interview with Bill Baker, the chief structural engineer at designing firm Skidmore, Owings & Merrill LLP.

As jobs are scarce worldwide, women in some countries are finding it harder than ever to find a job. There are still many places where women are not allowed to work, and in almost the entire world women are faced with less opportunities to get ahead than men. This is not only unfair, but a business mistake. Especially now, when the world is faced with a financial crisis, both men and women should be given equal opportunities. Also, including women in the workforce allows for more innovation in the economy as there is a larger diversity of ideas.

Watch this video to hear the story of women trying to make it in the world of construction. It is important to give both men and women the chance to prove themselves capable of doing any kind of work because the world of business needs some renovation.

When the global financial crisis hit, many nations saw a drastic decrease in their national wealth. While Tunisia suffered a slight decline in GDP by the end of 2008, its losses were not even close percentage-wise to those of other developed nations. The key to Tunisia’s economic resilience may be due to the fact that it is still undergoing a period of rapid economic growth and development. It may also be due to the fact that Tunisia’s economic backbone is based primarily on a labor-intensive workforce, and boasts a diversified economy with minimal exposure to the finance industry. Whatever the reason, Tunisia provides a strong example of what steps should be taken in order to get a country on the track to economic growth.

Amidst fears of a global slump, and the assumption that the Middle East will not be immune to it, the property developers of Dubai, located in the United Arab Emirates, continue to build, build, and build some more. As businessmen in the world’s hottest real estate market, who can blame them? Dubai’s annual growth rate has been a steady-near 18% since 2001, and it doesn’t seem to be slowing down anytime soon.