U.S. CONTRACTORS IN THE INTERNATIONAL CONSTRUCTION INDUSTRY

Abstract

Over the past two decades, the U.S. construction industry has fallen behind in its efforts to maintain its status as the world leader in engineering and construction services. This is reflected in their limited market share in the international construction industry. From the 1960s, the volume of foreign construction contracts acquired by the U.S has fallen from nearly 70% to barely 30%. The rapid economic growth in the transitional economies of Eastern Europe and the emerging nations of Asia and South America will further challenge the U.S. construction industry's status in the international construction market. The future success ofthe U.S. construction industry will depend on a variety ofconsiderations, including the rate of worldwide economic growth; the extent to which foreign markets are open to international competition; the ability of U.S. contractors to remain technologically strong; and their access to the capital required to finance large projects abroad.