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Global construction activity is increasing—with the exception of a notable reduction in the United Kingdom—but the industry faces more work with fewer workers, according to Turner & Townsend’s 2018 International Construction Market Survey. 

Of the 46 markets examined, 21 are expected to warm up, 23 are stable and only two are likely to cool off. Infrastructure stands out as the hottest sector for the future, followed by commercial construction. 

Global construction costs are expected to rise 4.3 percent this year following a 4 percent rise in 2017. New York once again holds the top spot for highest construction costs, ahead of San Francisco, Hong Kong, Zurich and London. 

Last year’s report noted a rise from 20 to 24 markets registering a skills shortage. This year, the number is up to 27, and just three of the 46 markets surveyed recorded a surplus.


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