Prosperity is expanding the borders of the world construction market. The North American market boom has been well documented, but the Middle East now is growing despite regional tensions, thanks largely to the upswing in oil prices. Asia has been holding steady at a high level of activity. The huge European market, which largely has been static, is showing signs of recovery, led by Eastern European work. And Latin America also is stirring, thanks to rising prices for copper and other commodities, which has mining work flourishing.
Overall, ENR’s Top 200 International Design Firms had a big year in 2005. Revenue from projects outside the firms’ home countries rose to $26.31 billion in 2005, up 8.9% from $24.16 billion in 2004. The big gainers on a regional basis were the Middle East at $2.43 billion in 2005, up 48.9% over 2004, and Canada at $1.55 billion, up 29.0%. Other gainers include the U.S., up 10.7% to $2.76 billion; Latin America and the Caribbean, up 9.4% to $1.51 billion; and Europe, up 6.8% to $7.44 billion. Asia was flat, increasing only 0.1% to $6.07 billion, while Africa fell 16.5% to $2.11 billion.