Research and Markets: Construction in Poland - Key Trends and Opportunities to 2017 Out Now
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/86ln9d/construction_in) has announced the addition of the "Construction in Poland - Key Trends and Opportunities to 2017" report to their offering.
“Construction in Poland - Key Trends and Opportunities to 2017”
The Polish construction industry increased in value at a compound annual growth rate (CAGR) of 3.93% during the review period (2008-2012). The commercial and infrastructure construction markets drove this growth. European Union (EU) funds and the 2012 UEFA European Championship supported the infrastructural improvements. The Polish economy demonstrated strong resilience during the financial crisis due to strong domestic demand and consumption, and a flexible currency. Poland was the only country in Europe to avoid the recession in 2009. However, growth in the industry is expected to be moderate over the forecast period (2013-2017), as a result of rising unemployment rates and low wage growth. The industry is expected to record a forecast-period CAGR of 0.33%.
- Poland's GDP growth is expected to slow further to 1.4% in 2013, its lowest growth since 2002, underpinned by weaker exports demand from the Eurozone, falling consumer expenditure and fiscal tightening measures. However, the economy is expected to recover modestly from 2014 and will grow by 2.4%, supported by a gradual rise in private consumption and investment.
- The Polish construction industry performed weakly after UEFA Euro 2012. According to the Central Statistical Office (CSO), the industry contracted by 0.6% in 2012, with the number of buildings built falling by 1.3%, and the number of building permits falling by 8.8% compared with levels recorded in 2011. The industry has remained weak in 2013, falling by 15.1% in the first quarter of the year, reflecting the increase in the number of companies suffering financial distress.
- Tourism is a key sector in Poland's economy, both in terms of contribution to GDP as well as growth in the employment rate. In 2012, the travel and tourism sector contributed 5% to the total GDP, and 4.9% to total employment. According to the World Travel and Tourism Council (WTTC), the sector's contribution to GDP is expected to increase by 1% in 2013 and 5.3% per annum by 2023, to reach 6.1% of GDP, which will help to increase demand for leisure and hospitality buildings over the forecast period.
- Polimex-Mostostal SA
- Budimex SA
- Mostostal Warszawa SA
- Trakcja SA
- Mostostal Zabrze Holding SA
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