📰Economic outlook for construction: The industry finds opportunities in civil works and nearshoring – Alex Lyon Mexico

📰Economic outlook for construction: The industry finds opportunities in civil works and nearshoring


Specialists foresee that the Gross Domestic Product (START) of this industry will grow 1% in the 2023, which will promote employment in the sector

The 2023 start with a slight optimism in the Construction Industry, since positive trends are anticipated that suggest that this activity will grow despite the economic factors facing Mexico.

According to BBVA Research, the Gross Domestic Product (START) from construction will grow 1% this year, forecast with which analysts from the project management platform Procore agree and add that "This trend of progress will be driven by civil works, with projects that are developed in several states of the country”.

further, Procore anticipates that the recovery in activity will result in, In the coming months there will be an increase in the hiring of personnel to comply with the construction of new projects, as well as the delivery of the works that had already started previously.

On the other hand, It is expected that the construction of industrial buildings stay in the 2023, as an effect of nearshoring, that is to say, the relocation of suppliers of North American companies from China to countries closer to the United States, as is the case of Mexico.

According to data from the Mexican Association of Private Industrial Parks, the opening of 25 industrial parks in the coming 12 months, which represents an investment of 25,000 millions of dollars.

Although this year offers opportunities for the industry, attention should be paid to the negative effects, in economic matters, that were inherited in the 2022. including high inflation, which is reflected in the Producer Price Index (IPP) and the increase in the leading rate of Banco de México, which makes financing more expensive.

"He 2023 It is presented as a year of growth for the construction sector, in which it will be important for companies to take note of technological advances and implement them as soon as possible, to get the maximum benefit”, indicated Procore.

What's coming in technology

Regarding the evolution of the Construction Industry, in the coming months the use of drones and LIDAR technology will be more frequent (Light Detection and Ranging), a laser system that allows to make maps in three dimensions, to know the soil conditions in the works. It is worth mentioning that this technology has already been tested in Mexico on the Mayan Train.

“Increasingly we will see how augmented and virtual reality, with the help of 3D models, they will be used to show in a real way how the projects will be once finished, which will help architects and promoters to visualize the work and positively influence the final decision of their clients”, detailed platform.

Finally, Procore noted that, care for the environment and end customers in the housing sector will go hand in hand with technology, which will increase the use of nanotechnology in the construction supplies and electricity supplied from a clean energy source, like photovoltaic cells.
Fountain: The Economist

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