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An Investigation of Safety Practices in the Saudi Arabia Construction Industry - Research Paper Example
Engineering and Construction
Pages 24 (6024 words)
Saudi Arabia has experienced rapid growth over the last few decades. In 2011, the GDP growth rate was 3.8% (TradingEconomics, 2011). This is roughly an average for the 21st century with lows having occurred during 2002-2003 and 2010 and highs during the mid 2000s…
Exports at present are over 200,000 million SAR and over 90% of these are oil exports, which account for 75% of government revenue. The rapid growth is therefore mainly due to increases in the kingdom’s oil revenues.
Since this growth, Saudi Arabia has faced an unprecedented construction boom, as its infrastructure has undergone massive development including the erection of new cities, airports, public and private buildings, highways, etc. The Saudi government has therefore been undertaking numerous infrastructural development projects on a massive scale throughout the kingdom. The construction industry engages in designing, constructing and maintaining unique buildings. In Saudi Arabia, its growth in recent years has been remarkable, especially due to increased foreign investment from international companies seeking to expand their businesses.
According to Saudi Arabia’s Infrastructure Report for the second quarter of 2011, Saudi’s construction industry is set to grow by 4% in 2011, and it will continue to grow at this rate for the next four years (Roberts, 2011). In particular, during the period 2011 to 2015, Saudi Arabia’s residential building construction is set to grow at a rate of 7.2% (Saudi Entrepreneurship, 2011). The Saudi construction sector is the largest and fastest growing in the Gulf region. ...