The UK is now the 5th least likely country in Europe to suffer major disruption in construction projects, and the 10th least likely globally.
According to new research from analysts Timetric, the UK now ranks at number 10 globally in the construction risk index, which measures risks that could prevent projects from being executed, result in major disruptions to projects, or ultimately lead to project failures.
The CRI is based on five dimensions of risk, each with varying weights: market risk, operating risk, economic risk, financial risk, political risk.
The UK ranks fifth in Europe, after Sweden, Switzerland, Denmark and Austria. It is also the only European market in the top 20 countries to improve its rating in the last quarter. According to Timetric, the data for the UK pointed to “further improvements in output and confidence levels.”
Germany dropped one place to 14th over the last quarter, while France remains in 19th place and Spain moves up one place to 36th in the latest Q4 global results.
On Sweden, Danny Richards, analyst at Timetric, comments: “Public and private investment across all the sectors continues to provide support to construction activity growth.
“The Swedish government aims to develop the country’s infrastructure and transport network, with a wide range of construction projects in the pipeline. Moreover, rising demand for residential buildings will also support construction growth from 2015 and onwards.”
In September, the UK became the tenth most attractive market for infrastructure investment, according to Arcadis.