Survey Shows U.S. Construction Costs are World’s Highest
The U.S. is the most expensive country for construction, said the latest global cost analysis by U.K. professional services consultant Turner & Townsend, with six American cities now among the list’s top 10 — dislodging London and Hong Kong for the first time, Alisa Zevin of Engineering News-Record reported.
“These figures have been fueled by the strong U.S. dollar but also the impact of Bidenomics,” the consultant said. Related to the latter, it noted impact of the federal Inflation Reduction Act and CHIPS Act, both enacted in 2022, “as driving investment in secondary markets across the U.S.,” particularly in manufacturing.