The construction industry grew to a spending value of close to 12 trillion U.S. dollars before the coronavirus pandemic, and is expected to grow by three percent per annum. This includes building projects in real estate - either residential or commercial - but also in infrastructure or industrial structures. Construction spending data includes cost of labor and materials, architectural and engineering work, and taxes.
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McKinsey. (June 4, 2020). Construction industry spending worldwide from 2014 to 2019, with forecasts from 2020 to 2035 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved May 27, 2022, from https://www.statista.com/statistics/788128/construction-spending-worldwide/
McKinsey. "Construction industry spending worldwide from 2014 to 2019, with forecasts from 2020 to 2035 (in trillion U.S. dollars)." Chart. June 4, 2020. Statista. Accessed May 27, 2022. https://www.statista.com/statistics/788128/construction-spending-worldwide/
McKinsey. (2020). Construction industry spending worldwide from 2014 to 2019, with forecasts from 2020 to 2035 (in trillion U.S. dollars). Statista. Statista Inc.. Accessed: May 27, 2022. https://www.statista.com/statistics/788128/construction-spending-worldwide/
McKinsey. "Construction Industry Spending Worldwide from 2014 to 2019, with Forecasts from 2020 to 2035 (in Trillion U.S. Dollars)." Statista, Statista Inc., 4 Jun 2020, https://www.statista.com/statistics/788128/construction-spending-worldwide/
McKinsey, Construction industry spending worldwide from 2014 to 2019, with forecasts from 2020 to 2035 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/788128/construction-spending-worldwide/ (last visited May 27, 2022)