Construction in Hong Kong Key Trends and Opportunities to 2021
Construction in Hong Kong Key Trends and Opportunities to 2021
Hong Kong’ s construction industry registered positive growth during the review period( 2012-2016). Construction activity was weak during the 2013-2016 period due to the economic slowdown in China and the resulting impact on trade relations. Consequently, poor business confidence had a negative effect on investments.
The industry’ s output value in real terms increased at a review-period compound annual growth rate( CAGR) of 3.96 %, and is expected to post a forecast-period CAGR of 2.19 %.
The industry is expected to expand at a slow pace over the forecast period( 2017 – 2021). This is mainly due to the prevalence of global economic uncertainty, on account of the new anti-trade policies to be adopted against China by President Trump. Hong Kong’ s trade dependence on China is subsequently expected to adversely affect its economy. Efforts to strengthen the economy by focusing on developing the country’ s commercial, housing, tourism and manufacturing sectors are expected alleviate the problem, although they will not solve it.
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