Economics

Countries Undergoing a Construction Boom

China built 76 new skyscrapers in 2017, whereas the Unites States built only 10.

A skyscraper is a building with over forty floors. The term “skyscraper” was used in the 1880s on buildings which had ten to twenty floors. Over recent years, technological advancement has led to taller buildings being constructed all over the world. Recent terms include “supertall” referring to tall buildings over 300 meters while those over 600 meters are said to be “megatall.” Below are the top ten countries who could be said to be currently undergoing a construction boom, considering they boast the highest number of skyscrapers completed in 2017.

Which Countries Are Building the Most Skyscrapers?

The rate at which skyscrapers are being constructed varies from one nation to another. China is the world’s leading skyscraper constructor. The United States is second, followed by South Korea, Canada, Indonesia, the United Arab Emirates, and Turkey in third, fourth, fifth, sixth, and seventh respectively. The other countries are North Korea, Malaysia, India, and the Philippines concluding the list of the top ten leading constructors of skyscrapers.

The United States of America recorded the construction of ten skyscrapers in 2017. This figure was dwarfed by China’s record of 76 buildings during the same year. The third country with the highest number of skyscraper constructions during that year was South Korea with seven skyscrapers. Canada and Indonesia were ranked fourth and fifth respectively as they completed construction of five skyscrapers during that period.

The other countries which recorded a significant number of skyscraper constructions are the United Arab Emirates and Turkey. Both countries had four skyscrapers constructed in that year. Besides, North Korea and Malaysia had the same number of skyscrapers, four, being constructed in 2017. Lastly, India and the Philippines saw the completion of three skyscrapers during that same year. About three-quarters of the top ten world leading skyscraper-leading nations are in Asia.

Factors Affecting the Construction of Skyscrapers

Today, many countries are expanding cities through buildings and constructions of various sizes. Most developed nations are muscling their powers by out-competing one another in such constructions. China, for example, has made significant progress with many cities witnessing the completion of buildings of unimaginable heights such as the 599-meter tall Pin An Finance Centre in Shenzhen. The reasons for such buildings range from economic to political factors.

Many of these buildings are used for commercial purposes. Many skyscrapers are constructed to fulfill the needs of businesses and corporation. However, the ever-increasing population of most areas has created a scarcity of residential areas. Building skyscrapers provides a home to many thus easing congestion. Furthermore, room for expansion on land has diminished which means that the only means of expanding is to build high buildings. Skyscrapers utilize whatever small pieces of land is available.

Challenges Associated With Skyscraper Building

Skyscrapers require enormous financing in order to complete their construction. Such costs may result in misuse of taxpayers’ money especially in countries where corruption occurs. Once completed, generally the units in skyscraper buildings boast very high rent which may be inaccessible for many businesses. Another notable challenge is the extent of damages in cases of crises such as terrorism and natural disasters like earthquakes. In the case of such events, high fatalities may be experienced.

Countries Building The Most Skyscrapers

RankCountryNumber of New Skyscrapers
1China76
2United States10
3South Korea7
4Canada5
5Indonesia5
6United Arab Emirates4
7Turkey4
8North Korea4
9Malaysia4
10India3
11Philippines3

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