Hong Kong government's census and statistics department: The total revenue of the construction industry in 2024 was 473.7 billion Hong Kong dollars, a year-on-year increase of 5.0%.

On November 27th, the Hong Kong Census and Statistics Department released the results of the 2024 Annual Survey of Economic Activities by the Construction, Building and Real Estate Industry. The data showed that in 2024, the total revenue of the construction industry in Hong Kong (including the total value of construction projects and other business revenue) was HK$473.7 billion, an increase of 5.0% from 2023. The average total revenue per company in 2024 was HK$18.2 million, a 9.8% increase from 2023. In 2024, the operating expenses and employee compensation of the construction industry totaled HK$440.1 billion, a 6.0% increase from 2023. The average operating expenses and employee compensation per company in 2024 were HK$16.9 million, a 10.8% increase from 2023. The total surplus of the construction industry in 2024 (total revenue minus operating expenses and employee compensation) reached HK$33.6 billion, a 5.9% decrease from 2023. The average total surplus per company in 2024 was HK$1.3 million, a 1.6% decrease from 2023. The industry's total surplus accounted for 7.1% of the total revenue in 2024, a decrease of 0.8 percentage points from 2023. The value added by the construction industry in 2024 reached HK$138.3 billion, a 4.0% increase from 2023. This value added is a rough measure of the industry's contribution to Hong Kong's Gross Domestic Product. The average value added per company in 2024 increased by 8.7% to HK$5.3 million. In 2024, there were approximately 26,000 companies engaged in the construction industry, employing around 197,500 individuals directly. The average number of employees directly employed per company was 7.6. The survey does not include subcontractors who only supply labor for each project. The employment figures mentioned mainly include employees directly hired by construction companies and do not reflect the labor input of subcontractors who provide labor through subcontracting activities. In addition to the construction industry, the survey also includes companies engaged in the real estate activities and architectural, surveying, and engineering services industries. In 2024, the total revenue of the real estate activities industry (including real estate development, leasing, brokerage, and property management services) was HK$180 billion, a 0.2% decrease from 2023. The operating expenses and employee compensation in 2024 totaled HK$97.3 billion, a 1.0% increase from 2023. The total surplus in 2024 was HK$71.5 billion, a 0.4% increase from 2023. The total surplus of the real estate activities industry accounted for 39.7% of the total revenue in 2024, an increase of 0.2 percentage points from 2023. The industry's value added in 2024 reached HK$116 billion, a 1.5% increase from 2023. In 2024, there were approximately 11,500 companies engaged in real estate activities, with around 125,500 employees. The average number of employees per company was 10.9. The survey excludes companies that develop real estate plans for their own use or own land that has not been developed during the relevant statistical year. Additionally, companies engaged in real estate leasing and related activities with fewer than two employees (excluding subsidiaries of real estate enterprises) are not included in the survey. The total revenue of the architectural, surveying, and engineering services industry in 2024 was HK$29.1 billion, a 4.9% increase from 2023. The operating expenses and employee compensation in 2024 totaled HK$25.6 billion, a 6.3% increase from 2023. The total surplus in 2024 was HK$3.6 billion, a 4.1% decrease from 2023. The total surplus of the architectural, surveying, and engineering services industry accounted for 12.2% of the total revenue in 2024, a decrease of 1.1 percentage points from 2023. The industry's value added in 2024 reached HK$19.6 billion, a 4.2% increase from 2023. In 2024, there were approximately 2,400 companies engaged in architectural, surveying, and engineering services, with around 28,100 employees. The average number of employees per company was 11.5.