Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Industries with the Highest Growth in Employment in Australia in 2024
Want to see more industries with the highest growth in employment?
View a list of the Top 25 industries with the highest growth in employmentEmployment Growth for 2024: 59.6%
Foreign currency exchange services expanded prior to the COVID-19 pandemic as world economies became more interconnected. Prior to the pandemic, the rising volume of people travelling in and out of Australia boosted growth in the volume of foreign currency exchange transactions. Strong growth in the number of international students studying in Australia also contributed to rising industry demand for industry services. Following the outbreak Demand for foreign currency exchange services plummeted dramatically. Associated international travel restrictions evaporated the traditional markets that forex firms rely upon for income. Consequently, industry revenue is expected to fall at an annualised 20.1% over the... Learn More
Employment Growth for 2024: 45.0%
Inbound tour operators primarily arrange and assemble travel packages, combining domestic tourism products like accommodation, transport, scenic tours and meals for overseas travel wholesalers and retailers. Revenue mainly depends on the number of inbound tourists visiting Australia. As such, the COVID-19 pandemic and the Federal Government's inbound travel restrictions slashed tourist numbers from March 2020 to February 2022. Over the five years through 2022-23, industry revenue is expected to tumble at a compound annual rate of 10.9% to $321.1 million. However, this trend includes a significant 260.4% surge in revenue over 2022-23 as Australia's international border reopens and a flood... Learn More
Employment Growth for 2024: 41.0%
The Commercial Refrigerator Manufacturing industry's revenue has increased over the past five years, despite the negative effects of the COVID-19 pandemic on many parts of the economy. Commercial refrigerators and freezers are essential equipment for a range of food, retailing and hospitality sectors. Demand for the industry's products has grown over the period, driven by the increasing refrigeration and freezer needs of supermarkets and other food retailers. However, other final users such as restaurants, cafes, hotels and clubs struggled in 2019-20 and 2020-21 due to the COVID-19 pandemic, hindering industry growth.
Prices for industry inputs, such as steel, plastic and rubber,... Learn More
Employment Growth for 2024: 38.9%
The Electric Vehicle Wholesaling industry has grown rapidly over the past five years. Increased charging infrastructure availability has supported demand, as has an increased range of electric vehicle (EV) models. Rising concern about environmental issues has also assisted the industry, as consumers have sought to lower their environmental footprint. A mostly positive consumer index, which indicates households are optimistic about their financial position and more likely to make expensive purchases, has further supported this trend. Despite these factors, EVs are still unaffordable for many consumers due to their high price point, limiting their consumer market. Additionally, minimal federal and state... Learn More
Employment Growth for 2024: 20.9%
Government funding and attendance numbers are key performance determinants for zoological and botanical gardens. Over recent years, rising domestic tourism has supported the industry despite the COVID-19 pandemic limiting the number of visitations. A depreciation of the Australian dollar has driven up international tourism activity, as it made Australia a cheaper option for overseas travellers. In addition, a weak Australian dollar meant the cost of international travel for Australians remained relatively higher than domestic alternatives, prompting interstate tourism to rise.
Tourism activity dropped in 2019-20 and 2020-21, because of the COVID-19 pandemic. In late 2019-20, the Federal Government implemented heavy border... Learn More
Employment Growth for 2024: 20.0%
The Music and Theatre Productions industry has faced significantly more favourable conditions in recent years. Robust demand for international artist performances in the contemporary music segment, combined with vastly improved ticket sales has assisted the industry's performance over the period. The makeup of organisations in the Music and Theatre Productions industry vary significantly. Traditional performing arts productions, like ballet and classical music, rely heavily on government funding to remain viable, while contemporary music production companies can achieve high profit margins by appealing to larger audiences.
Industry revenue is expected to fall over the few years through 2023-24, exclusively due to the... Learn More
Employment Growth for 2024: 15.9%
Technology is up-ending the way consumers manage their finances and pay for goods. In this shifting landscape, buy now pay later (BNPL) services have emerged to challenge traditional credit cards and short-term loans. Convenient BNPL services have been well integrated into the buying cycle, as consumers, particularly younger demographics, embrace payment instalments at the point-of-sale. Booming online shopping, amid extended COVID-19 lockdowns, has further fuelled merchant and consumer uptake of BNPL platforms. Revenue has surged by an anticipated 29.3% over the past five years, with a 4.5% rise in 2022-23, to reach $1.1 billion.
Consumers can flip between BNPL platforms, which... Learn More
Employment Growth for 2024: 14.9%
As technology has become more complex, the Cybersecurity Software Services industry has had many opportunities to expand its reach and performance. Businesses and consumers are relying more heavily on technology for their daily activities, which has fuelled demand for basic and advanced cybersecurity measures. Cloud storage and cloud computing uptake have generated an always-online culture for firms and consumers, which leaves their data and sensitive information more vulnerable to cyberattacks. As businesses have been investing more in measures to protect against cyberattacks, the industry has been expanding. Revenue has been climbing at an annualised 6.1% over the past five years... Learn More
Employment Growth for 2024: 14.9%
The Bicycle Retailing and Repair industry capitalised on a resurgence in the popularity of cycling during the pandemic. The popularity of cycling ballooned as consumers sought physical activity during lockdowns that were not subject to government restrictions. High levels of government stimulus boosted discretionary incomes, while various forms of discretionary spending were restricted to halt the spread of COVID-19. These trends caused a spike in demand for bike sales and repairs in 2019-20 and 2020-21. As restrictions eased, consumers shifted to spending on discretionary items that were previously restricted, like overseas holidays or eating in restaurants. These trends caused a... Learn More
Employment Growth for 2024: 14.2%
Revenue for the Non-Ferrous Metal Casting industry has increased over the past five years, driven by reduced import competition and rising input costs, which have been passed on to downstream markets. The industry has benefited from global supply chain disruptions during the COVID-19 pandemic, which have caused major shipping delays. Manufacturers have increasingly favoured local suppliers to boost their supply chains' reliability. Industry revenue is expected to grow at an annualised 4.6% over the five years through 2023-24, to $194.3 million. Rising world metal prices have increased input costs for the industry, reducing profit margins to an estimated 6.0% in... Learn More
Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Biggest Industries by Employment in Australia in 2024
VIEW ARTICLEBased on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Biggest Industries by Revenue. in Australia in 2024
VIEW ARTICLEDownload a free sample report today to discover the breadth and depth of information available at your fingertips!
GET SAMPLE REPORT