The outlook for Hong Kong's construction sector appears increasingly uncertain, as a recent survey reveals a significant drop in industry confidence. Conducted by the Construction Association and Hang Seng University between November and December, this annual poll assessed the sentiments of 237 member companies regarding both short- and medium-term prospects. Less than half of the respondents believe they can sustain their operations with the current project load, marking the lowest confidence levels since the onset of the pandemic. The findings highlight growing concerns within the sector about future viability and profitability.

According to the survey, participants rated their short-term (one to two years) and medium-term (two to five years) outlooks at an average of 5 and 5.7 out of 10, respectively. These scores represent a notable decline from previous years. The study also indicated that only 41% of respondents anticipated sufficient projects and profits to ensure near-term survival. A concerning 28% expressed doubts about their ability to endure, a figure that has risen by 10 percentage points compared to the previous year's survey.

Despite these pessimistic short- and medium-term projections, there is a glimmer of hope on the horizon. The long-term outlook—beyond five years—showed a slight uptick in confidence, with an average score of 6.5. This suggests that while immediate challenges loom large, industry players maintain a cautiously optimistic stance for the distant future.

The disparity between short-term anxieties and long-term optimism underscores the complex dynamics shaping the construction sector in Hong Kong. While immediate financial and operational pressures weigh heavily on many firms, there remains a belief in eventual recovery and growth. The resilience demonstrated by the industry in the face of adversity signals an enduring commitment to overcoming current obstacles.