The world economy does not stand still, despite global changes. Many industries are actively developing and increasing their income. At the same time, 10 sectors have shown strong growth during 2022.
Today, we discuss the top industries with the highest profit growth in 2022. It is interesting that most of the directions, one way or another, are connected with the field of recreation and tourism.
Global Hotels & Resorts
The most favorable period for this direction is the segment from 2016 to 2019. Financial stability has made consumers more confident in spending their money on travel. Hotels with casinos located on the territory were especially popular with guests – there was an opportunity to relax and enjoy gambling simultaneously.
The pandemic has made adjustments to this area: many hotels were idle due to the minimum number of visitors. Casinos have been forced to close their doors due to current restrictions. Gradually, visitors moved online. The live format allowed them to play slots and other live dealer games at home with the social aspect of a physical casino. If you want to give it a try yourself you can go Live HERE.
The recovery of the industry also came in 2021. According to experts, this line of business's income from 2022 to 2023 will increase by 40.6%.
Global Airport Operation
According to experts, this direction will increase its profit by 47.2%. The industry has consistently shown excellent growth and development performance. Passenger traffic is constantly growing. As a result, airports receive significant income from passenger fees and services provided.
The situation worsened in 2020. The declared global pandemic of COVID-19 and the strict restrictions imposed on it have almost destroyed the industry. Companies lost most of their income and were forced to reduce their workforce as much as possible to stay afloat.
In 2021, the industry began to recover gradually. This year turned out to be quite successful in this direction. It was possible not only to return to the level of income before the start of the pandemic, but also to increase them significantly. An even more significant increase is projected to occur in 2023.
International tourism is another area that has been hit hard by the pandemic. Until 2019, this direction was actively developing and bringing in stable income, while tourists used the services of land-based travel agencies. But COVID-19 has made adjustments – tourists increasingly use online channels to search for tickets, book hotels, etc.
Currently, agencies that provide online services are much more in demand among consumers. Companies were forced to master a new work format to avoid losing customers. For 2022-2023, industry revenue growth is expected to be 40.4%.
What Other Industries Will Increase Their Revenues for the Period 2022-2023
Several other areas are showing strong earnings growth. Most destinations are still in the post-pandemic recovery phase. Thus, a significant increase in profits is expected next year.
- Global tourism – expected profit growth to 27.4%. The direction is developing especially actively in Asia and South America. Here, the population's expenditures on tourism services have significantly increased.
- Global Airlines – Expected earnings growth of up to 25.4%. An exciting feature is that passenger and freight traffic increases yearly. At the same time, until 2022, the industry experienced a revenue decline. Experts attribute this to rising fuel prices, growing competition, and pressure from COVID-19.
- Casinos and gambling – expected revenue growth of 14.9%. Recently, some changes have been observed in the gambling entertainment industry – the sphere is actively developing Asian markets. If earlier Las Vegas and Atlantic City in the USA were recognized as the leading gambling cities, now it is Macau in China.
- Commercial Aircraft Production – Expected revenue growth of 14.6%. In the five years to 2022, revenue in this direction decreased by 3.1% – the pandemic led to a reduction in demand for private jets and a decrease in production volumes. This year, positive changes were observed in the sphere, which will provoke the restoration of the direction and income growth.
- Production of semiconductors and electronic components – revenue growth of up to 14%. While all other areas have been in crisis for the past few years, this area has steadily increased its income. This is mainly due to the spread of the Internet around the world, with the increased need for electronics, cars, computers, and other equipment.
- Global Deep-Sea, Coastal & Inland Water Transportation – 12.1% expected revenue growth. The growth of global per-person income and the development of manufacturing capacities have led to the expansion of this direction. The pandemic halted growth a bit due to higher shipping costs. But now the order is being restored.
- Cheese Manufacturing – profit growth by 9%. Lately, there has been a stable demand for dairy products among the population, due to which the sphere is actively developing. Even during the pandemic, she managed to maintain her resilience.
The growth of many industries suggests that any crisis can be overcome. We hope that in 2023 and beyond, many other sectors will begin their new stage of development and have many growth opportunities.