Abstract:

Nowadays, the impact of globalization on the world economy has contributed to the expansion of international markets and increased competition, labor mobility and the associated knowledge flow, the need for innovation and the introduction of technological processes. The development of the construction industry is proceeding differently in different countries, and this raises a discussion about the causes of these differences and the sensitivity of the industry. The aim of the study is to provide insight into the role of technology and innovation in the sustainable development of the Latvian construction industry. Strengthening the construction industry can contribute not only to the competitiveness of companies themselves and the economic growth of the country, but also to the improvement of the quality of life of society and the better achievement of the common goals of the EU.