Headlines about the end of globalisation are rife. The reasons cited for greater deglobalisation in parts of the world are numerous – from the war in Ukraine and the rise of populism, to more businesses coming to the conclusion during the pandemic that supply chains are too long, too reliant on one supplier or indeed too narrowly focused on one country.

Yet it’s clearer now than ever how interconnected global and regional markets remain. Across the construction industry in many cities around the world we see a familiar pattern: near universal inflationary trends founded on labour shortages, demand exceeding supply, and disruption in supply chains hitting costs and programmes.

The results of our International Construction Market Survey also demonstrate that, whether building a super-tall tower in New York or delivering a commercial scheme in London, we are part of a globalised industry which is reliant on complex supply chains and, sadly, too few skilled workers.

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