Tang, J C S; Karasudhi, P and Tachopiyagoon, P (1990) Thai construction industry: Demand and projection. Construction Management and Economics, 8(3), pp. 249-257. ISSN 01446193
Abstract
Thailand is fast becoming a newly industrializing country and, consequently, a large number of construction works are projected for the future. This study is an attempt to gain further insight into the demand for construction activities in Thailand. Three types of construction – residential, non-residential and 'other' (mainly public projects) – were considered. The demand function for each type of construction was estimated using regression analysis. Results indicate that rising per capita income, the ratio of consumer price index to the construction cost index, and population are the major determinants of demand for residential construction. The expansion of industrial production capacity and the ratio of corporate savings to the construction cost index are the most significant factors affecting the demand for non-residential construction. The demand of other construction is found to be largely a function of rising revenues of government and of public utilities. Further, projection results indicate that total construction activities in Thailand appear to have a bright future: projected values range from an annual average of 230 481 million Baht to 310 599 million Baht for the next 5 five years.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction industry; demand analysis |
| Index terms: | construction cost index, population, public project, public utility, demand analysis, revenue, regression analysis, determinant, construction industry, Thailand, residential construction, construction work, income, savings, construction activity, becoming |
| Subjects: | risk assessment, construction operations, economic analysis, cost indicators, operations management, Geography, infrastructure engineering, construction integration, industry analysis, infrastructure and transport systems, philosophical process, statistical analysis, market analysis, demography |
| Topics: | Site Management, Design Practice, Urban Studies, Risk Management, Business Strategy, Geographical Context, Project Management, Research Practice, Engineering Principles |
| Descriptive scope: | 4 PCTA |
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