Grey Forecasting of Construction Demand in Hong Kong over the Next Ten Years

Yongtao Tan, Craig Langston, Min Wu, J. Jorge Ochoa

Research output: Journal article publicationJournal articleAcademic researchpeer-review

8 Citations (Scopus)

Abstract

The Hong Kong construction industry since 1997 has experienced a difficult time in regard to construction output until recently. The future of the local construction industry remains uncertain. Forecasting of future development would be attractive to parties in the industry. Based on past data of the local construction industry, a grey forecasting model is developed to predict the annual growth of construction demand for Hong Kong over the next ten years. With the implementation of ten large infrastructure projects and further collaboration with the Pearl River Delta region, there will be many potential opportunities for the local industry, especially in the transportation sector. The data and the forecast are useful reference for clients, contractors and other industry participants to formulate their short-term and long-term strategic planning.
Original languageEnglish
Pages (from-to)219-228
Number of pages10
JournalInternational Journal of Construction Management
Volume15
Issue number3
DOIs
Publication statusPublished - 1 Jan 2015

Keywords

  • Construction demand
  • Forecasting
  • Grey model
  • Hong Kong

ASJC Scopus subject areas

  • Building and Construction
  • Strategy and Management
  • Management of Technology and Innovation

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