Abstract:
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.
