1、1International Construction Costs 2021Investing for a sustainable recoveryINTERNATIONAL CONSTRUCTION COSTS 20212International Construction Costs 2021Our research for ICC 2021 was completed during the second,much stronger wave of the pandemic.Encouragingly,we have found that most construction markets

2、 have remained stable during the year,showing high levels of resilience in the face of extreme market disruption.This years index varies from last years iteration with European cities led by Geneva taking the top five spots due to currency fluctuations in 2020 as well as a recovery in prices of comm

3、odities.With modest levels of inflation and some spare capacity,construction industries in most countries are well positioned to make their contribution to recovery.This is important,because as world economies slowed because of the pandemic and associated lock downs,many governments have opted to in

4、vesting in infrastructure as part of their recovery to create jobs,stimulate the economy,and to accelerate a sustainability transition.With large capital investment programs being proposed in many countries,it is critical to focus the recovery on creating long term value from the investments by choo

5、sing the right programs and by delivering them as productively and with as much certainty as is possible.These investments must also make their contribution to Net Zero Carbon targets.While this past year has focused so much attention onto the public health crisis,climate change and the urgent need

6、for carbon reduction is rightfully our greatest challenge and number one priority.Successful investment relies on well-informed choices and decisive action.A sense of urgency is needed not only due to climate change but also to capitalize on the positive investment environment(cash rich)we have curr