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An Exploration of COVID-19 and Its Consideration as a Black Swan for the Construction Industry in Switzerland

An Exploration of COVID-19 and Its Consideration as a Black Swan for the Construction Industry in Switzerland

Adrian August Wildenauer, Josef Basl
Copyright: © 2021 |Volume: 10 |Issue: 1 |Pages: 21
ISSN: 2642-2263|EISSN: 2642-2271|EISBN13: 9781799864004|DOI: 10.4018/IJDIBE.20210101.oa1
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MLA

Wildenauer, Adrian August, and Josef Basl. "An Exploration of COVID-19 and Its Consideration as a Black Swan for the Construction Industry in Switzerland." IJDIBE vol.10, no.1 2021: pp.62-82. http://doi.org/10.4018/IJDIBE.20210101.oa1

APA

Wildenauer, A. A. & Basl, J. (2021). An Exploration of COVID-19 and Its Consideration as a Black Swan for the Construction Industry in Switzerland. International Journal of Digital Innovation in the Built Environment (IJDIBE), 10(1), 62-82. http://doi.org/10.4018/IJDIBE.20210101.oa1

Chicago

Wildenauer, Adrian August, and Josef Basl. "An Exploration of COVID-19 and Its Consideration as a Black Swan for the Construction Industry in Switzerland," International Journal of Digital Innovation in the Built Environment (IJDIBE) 10, no.1: 62-82. http://doi.org/10.4018/IJDIBE.20210101.oa1

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Abstract

COVID-19 and its devastating yet unforeseeable effects affect the entire global economy value chain. Effects will be long-lasting and interfere with the way construction worked so far. Losses in the industry are expected to run into billions; spending on new buildings are predicted to decrease sharply and on a global long-term. COVID-19 is, depending on the viewpoint, either a “White Swan,” which is a probable event, causing massive consequences, or a “Black Swan,” which is additionally not foreseeable. The European Green Deal presented by the European Commission could serve as a new Marshall Plan to enable the long-awaited digitisation of the construction industry. A whole industry sector is called upon to undergo a digital empowerment within a very short period, for which other branches of industry have had years or even decades. Can this crisis serve as a spark for eventually starting the digitalisation of the construction industry?