Dassanayake D. R. S* VFORM Consultants Private Limited, Sri Lanka | Rathnayake L. VFORM Consultants Private Limited, Sri Lanka
ABSTRACT
Sri Lankan construction industry contributes around 7-8 percent to the Gross Domestic Product (GDP) of the country. Even though construction activities often act as a reliable bellwether for economic performance of a country, the construction industry demand is fluctuated due to several factors. The Easter Sunday bomb attack, COVID-19 pandemic and economic downturn with political instability occurred in Sri Lanka within the period of 2019 – 2022 have adversely impacted the demand for construction. The said instabilities and resultant debt crisis have become critical factors which have negatively impacted the demand for construction. This study is to provide more cognitive information on the update of cost of construction in Sri Lanka with year 2022 data.
Keywords: Cost of Construction, Covid 19 pandemic, Demand, Economic downturn