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Reinventing construction: A route to higher productivity

Back to Fixing housing and construction

Reinventing construction: A route to higher productivity

The construction industry employs about 7 percent of the world’s working-age population and is one of the world economy’s largest sectors, with $10 trillion spent on construction-related goods and services every year.

But the industry has an intractable productivity problem and, according to MGI research, an opportunity to boost value added by $1.6 trillion.

Exhibit

Lagging construction productivity costs the global economy $1.6 trillion a year.

In the media

reinventing construction
Article

Harvard Business Review: How to make every dollar of infrastructure investment go further

Article

The Business Times of Singapore: Looking beyond finance

Article

Project Syndicate: Awaiting the construction revolution

Article

The Economist: The construction industry’s productivity problem and how governments can catalyze change

Video

McKinsey partner Mukund Sridhar explains the issues and opportunities in tackling the productivity challenge in construction at a recent GII Summit.

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