In 2020, global infrastructure construction contracted by 2.7% year on year due to the impact of COVID-19. In 2021, As governments around the world actively introduce relevant stimulus policies, global infrastructure construction starts to recover, Fitch expects to achieve 5.5 percent growth. But headwinds such as rising costs of building materials and labor, and the continuing risk of COVID-19, are also limiting the rapid recovery of the infrastructure sector, which is expected to grow at an average annual rate of 3.2 percent between 2022 and 2030.

Article and data source: China International Contractors Association