Changes in technology, the internet and consumer interest all cause the job market to constantly change. Some have a rise and fall cycle, and others die off rapidly.
Some of the fastest declining markets today were once booming industries, the high street travel agent being a prime example of this. It is estimated that 700 travel agents closed in 2017 alone, and the industry is expected to be non-existent by 2024. On the other hand, here are the top 5 industries that are growing and predicted to flourish in 2020 onward.
Travel & Logistics
Without logistics, the country would come to standstill. Employers in this industry are responsible for planning and delivering everything to supermarkets, petrol stations, shops and households. Every business and person uses logistics in some way or another – making it a safe sector from extinction. The rise of online shopping has also contributed to the sector’s growth. Careers in logistics are also paying more generously – due to the shortage of lorry drivers and other workers within the field.
Within the last 10 years, having a strong online presence is fundamental for any new start up business to become a success. The internet is the no.1 platform in terms of people seeking products and services, so it’s no surprise that the demand for digital marketeers is increasing. Online marketing is also a far more cost-effective means of advertising than traditional printed media – another reason the industry is not slowing down any time soon.
Short for ‘Financial Technology’, FinTech is a fairly new industry that is becoming more prevalent and is expected to boom in the next 10 years. It refers to software that provides automated financial services – saving the need to hire an adviser or go to a bank. Mobile Payment apps and Cryptocurrency are both prime examples of how FinTech is currently being used. The key services it provides include withdrawing money, taking out a loan, transferring funds and online budgeting – making it extremely popular amongst small business owners due to its instant accessibility. Advances in artificial intelligence are set to transform the industry even further.
The pressure to slow down global warming has opened an emerging sector in Renewable Energy. It’s no secret that gas and electricity are not sustainable to our planet, and the government would have to pour 3bn a year to try meet the EU’S green energy targets. The growing roles within the sector include project managers, environmental consultants, engineers and analysts.
‘By nature, renewable energy has unlimited potential; as our understanding of renewables deepens, along with investment into the sector, career opportunities are rife in renewable energy’ – Bright Network
The job market is tough for any graduate but a degree in the energy sector will likely secure more probability of finding work than other degrees.
Medical biotechnology involves using living cells and materials to help diagnose and prevent diseases – whilst industrial biotech works towards developing drugs and vaccines. These are the two most in-demand careers in the biotech field. The UK is one of the leading countries for manufacturing pharmaceuticals and has been behind some of the biggest research breakthroughs of 2019.
‘The number of UK biotechnology companies has boomed over the past three years, increasing by 65 per cent since 2016’ – The Growth Business
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