Top booming industries to start a business.

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If you’re planning to start a new business, or to join one that’s expected to flourish, below is a list of top or high in demand industries.

Health and Wellness Services.

Being healthy and fit, both in mind and body, is all the rage right now. The pursuit of all things that promote physical and mental well-being has given rise to a $4.2 trillion global industry. There are so many ways to approach wellness from a business standpoint that it has spawned a new genre of entrepreneur — the “wellpreneur.” The wellness boom includes:

  • Healthy eating and nutrition
  • Wellness tourism
  • Fitness and mind-body health
  • Preventive and personalized medicine
  • Workplace wellness
  • The wellness spa.
  • Wellness real estate.

Online Learning and Educational Software

In our digital age, many people are forgoing traditional school in favor of alternative methods of learning. This has led to an unprecedented boom in online learning, also known as e-learning. Globally, online education is a booming industry, expected to reach $275 billion by 2022.

Hospitality and Travel.

The hospitality industry is undergoing drastic changes, bringing about a number of fresh opportunities for entrepreneurs. The global travel and tourism industry continues to grow, with more than one billion tourists traveling to international destinations every year. And behind this surging demand for travel is the mobile minded millennial generation, a group that relies on technology and social platforms to find the best travel options to suit them. 

Technology

Forecasted revenue growth: 1.9 percent
Forecasted job growth 2016 to 2026: 120 percent
Stock market 10-year gain: 295.88 percent
Best sub-sectors: Cloud computing, machine learning/A.I., big data

Forecasted revenue, forecasted output and venture capital investment were among the factors Fundera considered in deciding which industries are expected to generate the most money, products and jobs over the next 10 years. Their full methodology is available to read here

Source: CCNBC.

Energy.

The energy industry is a big and growing industry that contains all of the industries involved in the production and sale of energy. That includes: manufacturing, refining, extraction, and distribution. Having in mind that the modern society consumes a huge amount of energy, the energy industry is very important almost everywhere in the world.

Peer 2 peer lending.

Over the five years to 2019, peer-to-peer (P2P) lending platforms have evolved from a handful of start-ups to an industry worth $2.0 billion. In particular, the P2P Lending Platforms industry has reached a mature stage of growth as leading platforms have taken their companies public, reached profitability and formed industry associations.

Pioneered and introduced in the United Kingdom in 2005, P2P lending platforms facilitate loans from individual investors that pool their money via operators’ online platforms to loan money to consumers and small businesses. 

Author: Austine