Building & Construction
Building and Construction is one of the most important industries at national and European level. Building materials are the basis of any kind of construction, determine its endurance, aesthetics, safety and comfort. Due to their high demand, the construction industry is a leader in the consumption of raw materials. It is estimated that in Europe the amount of construction materials used exceeds 2 billion tons per year. At the same time, the features and combinations of building materials determine the energy requirements of buildings, which reinforce their environmental importance.
The construction industry contracted dramatically during the crisis. According to a recent study by IOBE (2019), the number of companies active in construction decreased by approximately 39,000 between 2009 and 2017.
The funds from the Recovery Fund and the new NSRF for the period 2021-2027, in combination with private projects, could breathe new life into the sector while supporting the Greek economy.
Covid-19 is impacting the global construction industry with projects facing supply chain issues, a halt to planning and inspection timetables, and new measures to ensure the health and safety of the workforce. After an unprecedented decline in March and April, construction production increased dynamically in May 2020 (22.1%); in the subsequent months it increased further yet not very strongly. In December 2020, only 94.8% of the pre-crisis level of February 2020 had been regained. Where sites have re-started, the consensus is that at best, a maximum of 60% of workers can safely return under social distancing rules. Productivity is expected to be 30%-40% lower, meaning projects will take longer to complete.