Going from feast to famine

The Top 225 International contractors group generated $310.25 billion in 2007 revenue from projects outside their respective home countries and has a total contracting revenue in 2007 of $826.96 billion. A rise in euro between January 1, 2007 to January 1, 2009 by 11% in value from $1.2 to about $1.47, boosted the Top 225's revenue for many international contractors. On the other hand, the market report found that the economic slowdown has caused the price of oil to drop by nearly two-thirds from highs above $150/bbl, which has resulted in companies not starting new projects. China's $586 billion plan announced on November 9, 2008, includes new housing, roads, railways, and airports. Various countries such as Spain and Germany have announced construction-related spending plans in an effort to address the effects of major recession.