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Industry study released in preparation for World FM Day

15 May 2017

An overview of the worldwide FM industry has been released by BIFM in the build-up to this year's World FM Day this Wednesday, which coincides with the deadline to enter the PFM Awards 2017.

Placing a global value of around $1.1 trillion on the sector, the research also suggests that the FM sector's contribution to the GDP of the UK is approximately 8%.

A value in the region of £120bn is expected to achieved this year, rising to £139bn by 2021, with the UK recognised as one of Europe's most mature and competitive markets.

Growth within the UK FM industry has been attributed to the move towards total FM agreements, with service providers becoming more integrated into clients day-to-day activities.

BIFM acting chief executive Linda Housmanis said although FMs are "keenly aware of the value they bring", the task of placing an overall value on the market was "a challenge".

"Over recent years, we have seen FM extend itsremit and take a more proactive role across a broader spectrum of activities,and this has been reflected in the FM Professional Standards developed by employers and other key stakeholders together with BIFM and which have been reviewed to include new work streams twice in the three years since their inception," said Ms Hausmanis.

She further stated BIFM's aim to "ensure the frameworks are in place to enable the FM sector to embrace the challenges and opportunities the future will bring".

BIFM branches around the UK are staging a variety of initiatives on and around 17 May.

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