Biggest Risk of Corruption in The Construction Industry: The Global Picture
By Elizabeth Robertson, Laura Atherton and Dylan G. Moses, K&L Gates, London
The construction industry is big business. A recent study has predicted that global construction output will increase by more than 70%, to US$15 trillion per year worldwide, by 2025. The dominant sources of this growth will be three countries in particular, China, India and the U.S., with much of the remainder in the emerging markets.
This growth is a cause for celebration, but it will not come without challenges. Some of those countries where the highest growth is predicted are also perceived as having the highest levels of corruption.
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1 The Global Construction 2025 by Global Perspectives and Oxford Economics.
2 The Chartered Institute of Buildings found that 49% of respondents to a 2013 survey thought that corruption was common within the UK construction industry.
3 China is listed at number 80 and India is listed at number 94 out 177 countries ranked by Transparency International on their corruption perceptions index in 2013.