Ethiopia ranks world’s second fastest growing construction market

Addis Ababa, May 17, 2017 (FBC) – Ethiopia will be among the top five fastest-growing construction markets globally over the next five years, according to BMI Research.

The Horn of Africa country ranks second in the list which is topped only by Burma, with Qatar third and Pakistan and the Philippines in fourth and fifth respectively.

All five will record double-digit growth as their respective governments work to tackle significant infrastructure needs, BMI Research said in its outlook for the global construction industry.

The rapid expansion these markets will enjoy, will be attractive to firms looking for new avenues of growth, offsetting the generally higher-than-average operational risk, the report says.

The construction industry in Ethiopia is booming because of increased public investment on development projects and private investments.

Currently, the country is constructing different mega projects such as the Grand Ethiopian Renaissance Dam GERD, sugar factories, condominium houses, industrial parks, wind power and railways, among others.