The building and construction industry is one of the fastest growing business sectors in Philippines. However, much like any other developing nation, the performance of this industry in Philippines too has largely depended on the international economic scenario. For example, during the global recessionary conditions that prevailed in 2009, the overall growth rate in the Gross Domestic Product (GDP) fell to 1.1%. That, in turn, considerably slowed down the progress of the national building and construction sector as well. Over the years, informative and popular trade shows like Worldbex have been instrumental in showcasing all topical information and market trends related to the Philippine construction industry.
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The importance of the construction sector in the national economy can easily be gauged from the fact that, since 2006, its share in the total GDP figures has been on a continuous upward trend. With the markets starting to recover after the global downturn, the investments in this sector have also increased manifold, thereby providing further thrust to the development of the building and construction industry. At Worldbex 2014, eminent trade personalities from this sector will be on hand to acquaint participants with the latest business opportunities and investment avenues in this industry.
The building and construction industry also occupies an extremely important position as far as employment and job-creation figures are concerned. As things stand now, this sector employs more than 2 million workers, thereby absorbing well over 5% of the total available manpower in the country. A visit to the Worldbex trade show would be instrumental for visitors to learn more about profitable career opportunities in this sector. The domestic law and order situation also has a critical role to play in the development of the construction industry. All the latest information pertaining to this sector would be available at the Worldbex 2014 event.
As in any other country, in Philippines too, a wide range of products are required for construction activities. Some of the key elements that are required by the professionals involved in this sector are cement, cooling and heating tools, industrial paints, IT equipments and safety gears. At Worldbex 2014, interested individuals can learn more about all the products that are necessary for the proper functioning of this sector. With growing environmental concerns all across the world, the concept of eco-friendly, ‘green’ buildings has also started to take root in the construction industry. Updated and efficient building creation techniques would also be displayed at the Worldbex show.
The prices of construction materials are also seen to be moving upwards since the last few years. This has primarily been due to the rise in the price levels of such key construction components like electrical appliances and plumbing tools. An in-depth insight into the price-movements of construction materials in the global economy can be obtained by attending professionally organized trade shows related to this industry, like Worldbex.
While the Philippine National Construction Corporation is the largest construction company in Philippines, several other domestic corporate houses are also coming forth to join this sector. This has been rendered possible by the overall systematic nature and professionalism with which all building and construction activities are carried out in the country. Visitors at the Worldbex 2014 event would be able to get a clear idea regarding the key players in the Philippine construction industry as of now.
The Philippine construction industry, barring the years of global recession, has been an extremely critical component of the national economy of the country. With favorable conditions in place and more investments flowing in, this sector looks all set to assume an even more important role in the years to come.