Globalisation and changes in ownership of the building and construction industry

Globalisation is profoundly affecting many industries, including the building and construction industry. The international restructuring of contractors, consultants and specialist subcontractors is a complex process, with only the largest firms in any, country involved. Typically,, globalisation is measured by the trade share in a country's GDP (exports and imports), and the level and extent of foreign direct investment (both inward and outward). In construction, the value of foreign work won by companies and the foreign share of company turnover have been followed and reported, and are often taken as the most appropriate measures of global activity in the industry. This paper takes a different approach, and investigates the extent and implications of changes in the ownership of major contractors, consultants and sub-contractors in both the international and Australian building and construction industries.