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The world is changing rapidly and with it the industries that power the global economy. In recent years, some industries have experienced explosive growth, while others have slowed down or disappeared altogether. In this article, we’ll take a look at the top five fastest growing industries and discuss what makes them so successful. From technology to healthcare, these sectors are driving the economy and paving the way for a better future.
Related: These Are The 10 Fastest-Growing Jobs In The US
1. Shipping and delivery services
The growing popularity of online shopping has led to increased demand for carriers and is quickly securing its place as the industry’s growth leader.
He US carrier reports that up to 8% of all retail sales take place online, or $394 billion. With an increasing number of people buying items on websites like Amazon and eBay, there will be a greater demand for people who can transport these items from one place to another since the pandemic. Many economists predict that it will be the fastest growing industry in the world over the next year.
As a result, shipping companies are hiring more people than ever before, and your skills may allow you to join them. If you’re looking for a career that allows you flexibility in scheduling while maintaining a steady income while working remotely (or at least part-time), this industry could be for you.
There are many benefits associated with being an independent contractor: flexible hours, no commute time, no dress code, and a choice in how much work or money you want to get (or how long). These benefits make it quite easy to adapt to any lifestyle and succeed.
2. The healthcare industry
The healthcare industry is projected to expand by 19%, making it the second fastest growing sector.
The reason for this growth is the growing demand for health insurance and the need for more people to take up jobs in the health industry. As our population grows, so does their medical needs – companies have to hire more doctors and nurses to meet those demands. More people are getting sick, which means more people need treatment. This increase in demand has led to an increase in the salaries of healthcare professionals and an influx of new patients into the field.
The influx of new patients requiring medical attention due to new laws will also increase the demand for insurance policies. For example, in 2019, many states mandated that employers cover the costs of contraception for their employees in their health plans. This development has significantly increased the demand for health insurance among young people seeking birth control coverage.
Related: Telemedicine is the new normal in the healthcare industry
3. Travel and food industries
With the population rising and interest in travel after years lost to the pandemic, dream jobs that combine travel with food and culture will rank third.
If you love to travel, consider a career as an agent or guide helping others plan their trips. Make sure you are certified by your local government to become a tour guide (usually required for historical sites).
You can also get certified through organizations like the San Francisco Institute of Professional Tour Guides or the International Institute for Travel and Tourism Studies (IITTS). If you don’t want to work directly with tourists but want to help with travel, become an agent for a company specializing in international flights and accommodations.
Related: The travel industry is catching up
4. Online retail
As more consumers turn to online platforms to shop, businesses are quickly adapting to meet this demand. Companies like Amazon, Walmart, and Target invest heavily in online efforts to better serve their customers. With more people using the Internet to shop and take advantage of discounts, the online retail sector is expected to grow significantly this year.
The convenience of shopping online during the pandemic has expanded significantly, though less out of wants and more out of needs. However, e-consumerism is already showing a strong comeback, with 1 in 5 retail purchases made online and an estimated year-end value of $1.1 trillion.
5. The AI revolution
The future of the global economy lies in Artificial Intelligence (AI). AI is expected to be one of the fastest growing industries of 2023, already valued at $328.34 billion. AI has started to revolutionize many industries, such as healthcare, finance, and transportation. Through automation, enhanced data analytics capabilities, and predictive analytics, AI is helping businesses become faster and more efficient while lowering costs. With its enormous potential for growth and its ability to revolutionize existing industries, AI is emerging as one of the most important drivers of economic growth not only today but in the years to come.