The analysis of hours worked in the construction of bridges and tunnels in Austria reveals significant fluctuations over the years. In 2013, the hours peaked at 6.7387 million, but by 2015, there was a dramatic decline of 73.49%. The industry displayed periods of moderate recovery but dipped again continuously post-2021. As of 2023, the hours stood at 2.161 million, marking a year-on-year decrease of 8.87%. The Compound Annual Growth Rate (CAGR) over the last five years was -1.56%. Notably, over the next five years, the CAGR is forecasted to be -10.2%, representing a 41.6% reduction by 2028.
Future trends to watch for:
- Potential technological advancements reducing hours needed.
- Net-zero and sustainable construction mandates impacting labor requirements.
- Government infrastructure investment and policy changes.
- Economic conditions influencing project initiation and completion rates.
