Top 5 Fastest Growing Industries for 2023

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The world is changing rapidly and with it the industries that drive 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 five fastest growing industries and discuss what makes them so successful. From technology to healthcare, these sectors drive the economy forward and pave the way for a better future.

Related: These are the 10 fastest growing jobs in the United States

1. Shipping and delivery services

The growing popularity of online shopping has led to increased demand for shippers and is rapidly securing its place as a leader in the growing industry.

The US shipper reports that up to 8% of all retail sales are made online, or $394 billion. With an increasing number of people buying items from websites like Amazon and eBay, there will be an increased demand for people who can transport these items from place to place since the pandemic. According to many economists, 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 schedules while maintaining a stable income while working remotely (or at least part-time), this industry might be right for you.

Being an independent contractor has many advantages: flexible hours, no commuting time, no dress code and choice of how much work or money you want to get out of it (or how long) . These benefits make it quite easy to fit into any lifestyle and achieve success.

2. The health industry

The healthcare sector is expected to grow 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 fill healthcare jobs. As our population grows, so does its medical need – companies need to hire more doctors and nurses to meet these 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 care due to new laws will also lead to an increase in demand for insurance policies. For example, in 2019, many states required employers to cover the costs of contraception for their employees as part of their health plans. This development has considerably increased the demand for health insurance among young people seeking contraceptive coverage.

Related: Telemedicine is the new normal in the healthcare industry

3. Travel and food industries

With population growth and interest in travel after years lost to the pandemic, dream jobs that combine travel with food and culture are expected to land in third place.

If you love to travel, consider a career as an agent or guide who helps 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 be certified by organizations such as the Professional Tour Guide Institute of San Francisco or the International Institute of Travel & Tourism Studies (IITTS). If you don’t want to work directly with tourists but still want to help with travel, become an agent for a company that specializes in international flights and accommodation.

Related: The travel industry is modernizing

4. Online retail

As more and more consumers turn to online shopping platforms, businesses are quickly adapting to meet this demand. Companies like Amazon, Walmart, and Target are investing heavily in online efforts to better serve their customers. With more and more people using the internet to shop and avail of discounts, the online retail industry is expected to experience significant growth this year.

The convenience of shopping online during the pandemic has expanded dramatically, but less for wants and more for 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 in 2023, already valued at $328.34 billion. AI has started to revolutionize many sectors, such as healthcare, finance and transport. Through automation, improved data analytics capabilities, and predictive analytics, AI helps businesses become faster and more efficient while reducing costs. With its enormous growth potential and ability to revolutionize existing industries, AI is set to be one of the most important drivers of economic growth, not just today, but for years to come.