In 2018, the construction industry spending worldwide amounted to 11.4 trillion U.S. dollars. Construction expenditures are expected to reach 14 trillion U.S. dollars in 2025.

Construction Spending Worldwide

Construction spending is an economic measure that calculates how much money is spent on new construction. This includes the public and private sector, which involves residential and non-residential construction. The construction spending market does not have a large effect on markets, but is useful in trying to forecast the upcoming GDP numbers. Construction spending data includes cost of labor and materials, architectural and engineering work, and taxes.

The United States has one of the largest construction industries in the world, with their total value of new construction having grown since the global Recession. Between 2019 and 2020, Buenos Aires is expected to the have one of the largest growths in the city’s constructions costs. However, in 2020, Asia is expected to hold about 46 percent of the global construction spending, largely seen in China’s construction markets and other emerging countries in Asia. In 2021, Asia Pacific is expected to have the highest construction industry output in the world.