Global Biggest Industries by Employment in 2020

1. Global Hotels & Resorts

Employment number for 2020: 9,690,013,000

Over the five years to 2020, the Global Hotels and Resorts industry experienced strong growth as both consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This culminated in a substantial increase in both travel rates and hotel room and occupancy rates, two indicators of a hotel's performance. Travel spending has also picked up quickly, especially in emerging economies where tourism is on the rise. Global tourist arrivals were steadily increasing between 2015 and 2019 until a drastic drop in 2020 due to the global spread of COVID-19 (coronavirus). As a result... Learn More

2. Global Wireless Telecommunications Carriers

Employment number for 2020: 3,158,838,000

Over the five years to 2019, the Global Wireless Telecommunications Carriers industry has become essential to the daily lives of the world's consumers and businesses. As a result, demand for the industry has grown, with revenue increasing accordingly. Revenue is expected to grow an annualized 1.6% to $1.2 trillion over the five years to 2019. Industry operators have adopted two primary strategies to grow revenue, which include expanding subscriber numbers and increasing average revenue per user (ARPU).

Most of the new wireless subscriptions over the five years to 2019 have emanated from emerging markets. There are now over one billion mobile... Learn More

3. Global Newspaper Publishing

Employment number for 2020: 780,872,000

The Global Newspaper Publishing industry has endured rising external competition from digital media formats, which has lowered the industry's revenue base over the five years to 2019. The explosion of online entertainment and news, fueled by the rapid adoption of mobile devices and high-speed internet, has attracted a greater share of advertising spending, which until recently was the industry's principal revenue stream. Readers are also opting for free news articles that have been able to capture younger demographics, particularly in mature economies. Over the five years to 2019, industry revenue is expected to decline an annualized 2.7% to $107.4 billion.... Learn More

4. Global Tourism

Employment number for 2020: 27,182,096

The Global Tourism industry is expected to increase at an annualized rate of 0.2% to $1.5 trillion over the five years to 2020. Global tourism has performed well during the five-year period, with emerging economies continuing to stimulate growth. Moreover, countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. However, due to the global spread of COVID-19 (coronavirus) in 2020, industry revenue is expected to decline 8.9% over the year. The global outbreak is expected to have an enormous effect on... Learn More

5. Global Consumer Electronics Manufacturing

Employment number for 2020: 16,001,652

The Global Consumer Electronics Manufacturing industry is expected to grow at an annualized rate of 1.9% to $1.4 trillion over the five years to 2019, including a 3.8% increase in 2019 alone. The past five years have been characterized by growth in emerging markets and the introduction of new products, leading to more people buying consumer electronics. Innovative products, falling prices, growing household incomes and rising consumer sentiment have supported demand for consumer electronics. Still, many industry products have approached market saturation, leading to price competition and downward pressure on profit margins across the industry. Meanwhile, consumers have been spending... Learn More

6. Global Fast Food Restaurants

Employment number for 2020: 14,212,192

Over the five years to 2020, the Global Fast Food Restaurants industry has expanded despite changing consumer tastes and a recovering global economy. As disposable income rose during the period, consumers increased spending on luxuries, such as eating out, therefore also boosting profit. Additionally, fast food operators outperformed full-service restaurants during this period, as many consumers capitalized on lower-priced and convenient food options. The industry also experienced steady and growing demand from emerging economies, which boosted the industry's overall performance. During the period, the industry has also been forced to adapt to increasingly health-conscious consumer preferences. While major fast food... Learn More

7. Global Commercial Real Estate

Employment number for 2020: 13,010,231

The Global Commercial Real Estate industry grew over much of the five years to 2020 after a slow start. Investor confidence took a hit in 2015, which continued into 2016 largely due to global political uncertainty and low oil prices. This negatively affected investment in the industry and revenue declined 0.6% in 2016. Global investment has since rebounded strongly amid strong global economic growth, which propelled industry revenue to recover. However, the outbreak of COVID-19 (coronavirus) is expected to severely constrict demand as economic uncertainty skyrockets. As a result, industry revenue is expected to fall at an annualized rate of... Learn More

8. Global Apparel Manufacturing

Employment number for 2020: 11,844,687

Demand for the Global Apparel Manufacturing industry is highly dependent on disposable income and the overall economic well-being of the region in consideration. Generally, over the past decade, the industry has benefited from an increasing number of consumers opting to buy more garments at lower prices, driving both industry revenue and profit. This trend has been sustained by significant offshoring of apparel manufacturing from industry establishments in developed countries to developing economies, which has significantly lowered production costs, reducing the overall price of apparel and making apparel products increasingly affordable to an expanding consumer base. Consequently, international trade is of... Learn More

9. Global Commercial Banks

Employment number for 2020: 8,664,988

The Global Commercial Banks industry is expected to continue recovering from the 2008 global financial crisis as major developed markets experience increasing commercial banking activity as a result of strong economic performance and positive expectations. The industry closely follows global economic performance since demand for loans is heavily influenced by business and consumer confidence as well as the level of activity that requires financing. The strong global economic performance fueled by the United States and emerging markets, such as China and South East Asia, has improved business and consumer confidence that has supported loan origination. As a result, the industry... Learn More

10. Global Coal Mining

Employment number for 2020: 7,905,417

Coal mined by the Global Coal Mining industry plays a vital role in the world's ability to generate electricity and manufacture steel. Coal's position in global electricity markets stems from its relative accessibility, affordability and distribution across the globe. The world's largest coal producers are China, the United States and India, with these countries expected to retain their positions. Industry revenue is a function of global production of industry products alongside their prices, with prices being closely tied to global demand and supply conditions. Over the five years to 2019, the prices of thermal and coking coal have fluctuated wildly,... Learn More