At the close of 2019, LE analysts stated that the total global construction pipeline hit record highs with 15,000 projects/2,454,954 rooms, a 11 percent increase in projects and an eight percent increase in rooms year-over-year (YOY).
The global pipeline has been ascending for nine consecutive years after reaching its cyclical low, by rooms, in 2010. Four of the seven regions of the world continue to have pipelines trending upward, YOY. The exceptions being Latin America, Africa and, with counts essentially even, the Middle East.
There are 6,859 projects/1,217,662 rooms currently under construction worldwide. Projects scheduled to start construction in the next 12 months and projects in the early planning stage are at all-time highs and stand at 4,533 projects/654,474 rooms and 3,608 projects/582,818 rooms, respectively.
The top countries by project count are the US with 5,748 projects/708,898 rooms, slightly short of its all-time high of 5,883 projects/785,547 rooms set in the second quarter of 2008, and China reaching a new all-time high with 3,526 projects/643,435 rooms.
The US accounts for 38 percent of projects in the total global construction pipeline while China accounts for 24 percent, resulting in 62 percent of all global projects in just these two countries. Distantly following are Indonesia with 367 projects/60,354 rooms, the UK with 346 projects/49,651 rooms, and Germany the with 339 projects/61,836 rooms.
Around the world, the cities with the largest pipeline counts are Los Angeles, CA with 168 projects/28,501 rooms; Dallas, TX with 160 projects/19,787 rooms; and New York, NY with 158 projects/25,825 rooms. Dubai follows with 152 projects/46,941 rooms, and then Chengdu, China with 134 projects/27,864 rooms.