The Chartered Institute of Building’s (CIOB) ‘Real Face of Construction 2020’ report shows the economic influence of the UK construction industry is at almost double that of the recorded figures by the Office of National Statistics (ONS)
The ‘Real Face of Construction’ report sets out the sector’s giant reach into the economy, which officially accounts for about 6% of economic output of the UK and provides employment for 2.3 million people.
Breaking down regional construction value
The report demonstrates the wide variations in regional performance and output that have occurred since 2013, indicating the need for careful, integrated policymaking at a local, regional and national level.
The report includes regional data examining the number of construction businesses, the output from the industry, stock of buildings, number of people employed by sector, annual earnings, and key projects, demonstrating construction’s importance as an employer and driver of prosperity in each area.
The CIOB is calling for a better measure of the construction industry that includes all aspects of the design and construction process, not just the assembly on site. The report also draws on brand new research that gauges the public’s attitude towards the industry and their aspirations for the built environment.
The Real Face of Construction report argues that by including all aspects of the design and construction process, construction GDP could be close to double in size. Understanding the data is crucial, because if policymakers and experts do not have access to the full picture then bad decisions and, in turn, bad policy based on incomplete data is likely to be made.
Educating policymakers on the value of the built environment
Caroline Gumble, chief executive of the CIOB, said: “The quality of our built environment affects every member of society; our work influences productivity and wellbeing at home and at work. It is both far-reaching and life-shaping.
“Our purpose for this report is to help educate policymakers about the true value of the built environment and the need to work in closer partnership with the industry to realise its full potential, particularly at a regional level where it can rebalance local economies and offer people a quality career unlike many others.”
See CIOB’s ‘Real Face of Construction 2020’ report in full here.