We live in unpredictable times, times in which the direction of the global economy seems to change at the drop of the hat. Yesterday's boom market is tomorrow's lame duck, meaning that making the right investment decisions has never been more difficult.
That being said, some facts are easier to obtain than others. Based on current growth trajectories, economists have been hard at work determining which industries are going to see the most dramatic growth in the year ahead. Whether you're looking for some savvy investment tips or planning on a career switch, these are the top growth industries for 2019.
This one might provide an inkling of comfort to those fearing inevitable ecological collapse. While much more remains to be done in the fight against climate change, the numbers show that next year will be a record year for renewable energy investment and production by a large margin.
Much of this is being driven by ambitious targets from economic giants; the EU has pledged for 32% of their energy usage to be renewable by 2030, while major companies like Samsung and IKEA have pledged to be entirely renewable by the same deadline.
Virtual Reality & Live Streaming
The entertainment sector is seeing some strong growth in all quarters, but none more so than the field of VR and live streaming technology. Such technology has already been adopted by a string of major companies for a wide range of purposes, only serving to fuel demand further.
Virtual reality is being used by giants such as Disney and Nickelodeon, whilst innovative live streaming technology is being rolled out en masse by gaming giants such as William Hill to allow for live casino online gaming for millions of people. These two closely entwined sectors will see huge growth in the year ahead.
A full decade on from the financial crash, the construction boom is back on. Alongside record-breaking infrastructure projects in Central Asia and Africa, the US and Europe are in the middle of a house building boom, with over 13,000 construction jobs created every single month in the US alone this year, according to the Labor Bureau.
The world is building again, bringing record investment with it.
In the wake of several of the most high-profile hacks and cyber attacks in history, targeting governments, hospitals, and tech companies, cybersecurity is in huge demand. A decade ago, global cyber security spending amounted to around $4 billion. In 2019, that number is expected to surpass $1 trillion for the first time.
Such a dramatic investment increase has created millions of jobs and entirely new markets, pushing the average salary of a cybersecurity engineer up to $120,000.
The range of threats from various different groups is much larger in scope than anyone could have anticipated, meaning that much of the dramatic growth we'll see next year is driven by an urgent need for companies and governments to adapt to the digital realities of the modern world.
The thriving global economy means that now is an ideal time to invest in these industries which are on par to be the biggest in the world. How times change.