Top 4 Fastest Growing Australian Industries

Top 4 Fastest Growing Australian Industries
 

Along with the many losers throughout the COVID-19 pandemic, there’ve been some surprising winners. No one could have projected in 2019 that telehealth services, hand sanitizer, or rapid antigen test kits would quickly become the most important consumer product in the world. After surviving some economic losses, Australia is one of the most developed markets in the world.

However, Australian businesses, quite probably the strongest economy in the world, play crucial parts in the country’s turn of events. One of the most appealing businesses among them is the Forex business, which has many opportunities. Australian industries are growing and becoming gradually globalized. So, the Australian people are looking for high-paying jobs in these industries.

If you like to earn the average earnings of nearly under $80,000 yearly, you may have to improve your skill, and you should possibly know what the quickest evolving industries in Australia are. Selecting one of the most vital industries that are projected to keep rising might afford you a higher salary and long-term job security.

We decided to research for you what these industries are, as we have discussed the top 4 fastest growing Australian industries in this article. So, let’s take a look at these industries, which will continue to flourish after 2022.

Top 4 Fastest Growing Industries In Australia

Below you will find 4 of Australia’s quickest-growing industries, along with the reasons why they are growing. Align yourself with these industries, and you might see financial benefits and increasing opportunities in 2022 and time after that.

Construction

construction

The construction industry comprises a broad range of services, including construction, demolition, maintenance, renovation, or repair of infrastructure and buildings. It includes all the things from inspection and design to structural construction and final services such as decoration.

The construction industry produces around $360 billion in revenue, accounting for about 9% of Australia’s GDP. Also, it has a projected yearly increase of 2.4% in the coming 5 years. Most businesses in this category are either very modest or sole proprietorships, hiring less than 20 workers.

Also, They are frequently Australian-owned, having sales focused on the home market. Construction is a fast-growing industry as towns continue to increase in population and the requirement for eco-friendly building options becomes more of a priority.

Manufacturing

manufacturing

Those who have seen the Australian economy over the years will know that manufacturing has played a key role all the time. Of all the manufacturing production in the world every year, Australia contributes around $100 billion. The manufacturing industry contributes about 48% of the country’s trades.

According to some reports, the manufacturing industry alone accounts for 6% of the nation’s gross domestic product (GDP). In addition, the industry has produced 800,000 jobs in the past few years, and it remains to grow after the COVID-19 pandemic.

Though digitization and technological advances have transformed manufacturing, it remains to be a quick-growing Australian industry that is anticipated to grow and adapt to the changing times continuously.

Healthcare & Social Assistance

health

Healthcare continues to be among the fastest-growing industries across the globe, and it has been boosted by our aging population. Statistics reveal that within 3 decades, 22% of the population in Australia will be more than 65 years old. According to a report, healthcare and social assistance employ more than 2 million people, and it is still one of Australia’s fastest-growing industries.

This wide-ranging field includes areas such as emergency services, aged and disabled care, welfare, childcare, and counseling.

Though some people have concentrated on the point that the aging population seems to be dropping off, they generally forget that the total population continues to increase. Eventually, it means that the percentages might hover around a similar mark, but the real number of aging people needing healthcare is still increasing.

Renewable Energy

renewable energy

Customers are paying more emphasis to their carbon footprint with every year that goes through, and they select companies that take social duty seriously. With demand rising, companies are making more investments in renewable energy. Australia is lucky to have wind turbines, hydro energy, wind power, and various other solutions.

Besides, the sustainable living and renewable energy industries are becoming a top priority for most countries. From Australia to the UK, more money is being invested in this sector to preserve ecosystems and aid the planet in healing. The methods of accomplishing these goals are quite different. As a result, there are so many different jobs in the renewable energy industry.

One thing that has helped this industry tremendously is the backing of the Australian government. Understandably, the government has specific goals and green initiatives to meet.

By 2050, the government anticipates many states to generate no carbon emissions. In 2019, about 19% of all energy was formed from a renewable source. After one year, experts indicate that this percentage is almost one-quarter. Australia is now on parity with some of the top green countries, like the UK, where about one-quarter of electricity is generated by wind turbines.

If you like to change careers and do a job that matters, then this industry is ideal for you. You can start by doing online courses on the subject of climate change and then specialize in specific areas such as solar power, responsible food supply, or wind farming.

Conclusion

If these fastest-growing industries of Australia align with your goals and passions, then it is great news for you. The next step you should take is to find relevant education, courses, or training that can get you a job in the sector you have got your eyes on.

You can also enroll now in the top colleges in Australia to learn vocational education and training (VET) programs associated with these sectors. We are hopeful that this article on the top 4 fastest growing Australian industries has helped you to choose the perfect industry to get a job for you.