Fastest Growing Industries

FASTEST GROWING RECRUITMENT SECTORS IN 2020

What will be the fastest growing industries in 2020? Last year, there were some considerable changes around the world. We have seen a great shift in the direction of populist voting, while there is a rejection of globalization and the establishment. The predictions for this year are certain to be challenging and courageous.

Economy - Growing Industries

Businessman drawing a rising arrow over a bar graph above the city

Finance and Accounting

Whenever there is an economic downturn, there is an increasing demand for financial experts and accountants. In 2020, we can expect there to be some economic challenges as well as a shift in corporate dynamics.

With Brexit, it will be necessary for several businesses to change their accounting and business practices. The profit and cost models the companies operate will face the further examination. In addition, a number of baby boomers are retiring from the accounting sector.

Energy, Gas, and Oil

Contrary to previous years when this sector experienced a downturn there is now renewed confidence. With the price of oil rising, exploration companies are confident in their speculation to develop potential fields.

Construction

The government has contributed billions of dollars in an attempt to boost housing construction. In addition, there has been enormous growth when it comes to property completion.

McKinsey – Superstar fastest growing industries, sectors, firms and cities Feature Article

Engineering

Between 2017 and 2025, aging baby boomers will be leaving the engineering sector, which will leave a huge skills gap. Unfortunately, the replacement talent pool is actually quite small.

Technology and IT

For a few years now, the IT and technology sector has been consistently at the top of the fastest growing recruitment sectors. This year is no different. This sector does face all of the same supply and demand factors as well as demographic issues that all of the other sectors must face.

Like the others, the IT and technology sector has a workforce that is aging. In addition, there is an unceasing need for experts in the industry. However, the greatest impact comes from the rate of technological advancement and change as well as global demand.

Additional Reading

Automotive Industry Outlook

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