Industries with the Highest Growth in Employment Global in 2024

1. Global Tourism

Employment Growth for 2024: 9.8%

The industry will increase at a CAGR of 0.8% to $2.3 trillion over the five years to 2023, including a growth of 13.9% in 2023 alone. Global tourism has performed well during most of the five-year period, with emerging economies stimulating growth. 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. But because of COVID-19, industry revenue collapsed 40.1% in 2020. The global outbreak had an enormous effect on all tourism-related industries as many countries suspended international travel and limited the... Learn More

2. Global Respiratory Ventilator Manufacturing

Employment Growth for 2024: 8.1%

Products produced by the Global Respiratory Ventilator Manufacturing industry have long been a staple of the global healthcare sector. Demand for ventilators has historically been stable since they are a life-saving device for patients with limited breathing function. While hospitals do not usually need a significant number of ventilators, the COVID-19 (coronavirus) pandemic caused demand for ventilators to skyrocket in 2020. Patients with severe coronavirus symptoms often need to be ventilated because their lungs become so inflamed that they are unable to provide the body with enough oxygen. While ventilation is not always successful, early in the pandemic, it was... Learn More

3. Global Military Aircraft & Aerospace Manufacturing

Employment Growth for 2024: 6.2%

The Global Military Aircraft and Aerospace Manufacturing industry has continued to expand amid rising geopolitical tensions. The United States, other Western governments and Asian countries remain the largest markets for defense contractors. Countries continue to bolster their defenses by purchasing more military aircraft, missiles, satellites, radars and avionics. Overall, revenue is expected to grow at a CAGR of 0.4% to $316.6 billion over the five years to 2023, including a 1.5% in 2023 alone as profit creeps downward to 7.3%, barring supply chain disruptions. Non-Western countries have increased spending on defense.

Emerging economies have allowed more nations to spend on military... Learn More

4. Global Airport Operation

Employment Growth for 2024: 5.4%

Airport operators have faced complex operating conditions in recent years. Rising levels of airline passenger traffic before the COVID-19 pandemic enabled airports to earn significant revenue through passenger charges and services provided directly to airlines. At the same time, improving economic conditions increased corporate profit and fueled global manufacturing activity, causing airlines to operate more flights to transport greater quantities of cargo. The COVID-19 pandemic completely disrupted the industry in 2020, causing revenue losses of more than 40.0% in that year alone. Global airport operation revenue has increased at a CAGR of 1.5% to $254.7 billion through the end of... Learn More

5. Global Military Shipbuilding & Submarines

Employment Growth for 2024: 5.2%

The Global Military Shipbuilding and Submarines industry has continued to expand amid rising geopolitical tensions. The US, other Western governments and Asian countries continue to be the largest markets for military shipbuilders. Despite the pandemic's effects, revenue has remained steady, as contracts were already placed beforehand.

The United States, the largest market for the industry, has increased spending on shipbuilding and conversion as it has sought to maintain its ability to project power abroad, protect trade lanes and defend allies. Meanwhile, some of the biggest surges in naval expenditures have come from developing nations (China, Russia, India and East Asian countries).... Learn More

6. Global Spirits Manufacturing

Employment Growth for 2024: 5.0%

The Global Spirits Manufacturing industry has benefited from premiumization trends in both developed and emerging economies over the past five years. Emerging markets like China and India have picked up the slack from declines in Eastern Europe resulting from political tensions and government intervention. Spirit consumption in emerging markets has flourished alongside population growth and urbanization, while consumers in developed economies have spent more on spirits by trading up to premium products. The rising trend of ready-to-drink cocktails has fueled growth in developed economies, staving off competition from substitute beverages like wine and beer. Over the past five years, revenue... Learn More

7. Global Internet Service Providers

Employment Growth for 2024: 4.9%

Internet service providers have enjoyed growth over the current period. Consumers increasingly demanding faster internet speed in developed economies have boosted ISPs' performance amid sluggish subscriber growth. While rising mobile data subscriptions have constrained growth for ISPs in some developing regions, fixed broadband expansion in developing countries like China and India has bolstered growth. The emergence of powerful personal and business internet applications has transformed how businesses and consumers operate and has also presented opportunities for ISPs to offer additional high-margin services, benefiting profit. Overall, industry-wide revenue has been increasing at a CAGR of 2.2% over the past five years... Learn More

8. Global Cardboard Box & Container Manufacturing

Employment Growth for 2024: 4.8%

Over the five years to 2023, the industry has benefited from growth in global consumer spending and world GDP. Growing consumer spending led to expanding downstream markets, including manufacturing, retail and wholesale businesses. In addition, rising demand from emerging markets, such as China and India, has boosted demand for cardboard containers. But strong fluctuations in the world price of wood pulp have hampered revenue growth in specific years. However, supply chain disruptions during and following the COVID-19 pandemic caused prices to increase and revenue to surge. Altogether, industry revenue is expected to grow at a CAGR of 7.2% to $458.3... Learn More

9. Global Music Production and Distribution

Employment Growth for 2024: 4.2%

Digital music has ultimately shifted how artists engage with fans, a transition that has had major implications for global music producers and distributors. Digital sales have plummeted as subscriptions to streaming platforms providing massive libraries of albums surge. Physical sales have dipped but declined considerably as a share of revenue because of surging growth from streaming royalties. Industry-wide revenue has been growing at a CAGR of 4.4% over the past five years and is expected to total $38.7 billion in 2023, when revenue will jump by an estimated 3.3%, with profit set to climb to 9.5%.

The outbreak of COVID-19 had... Learn More

10. Global Marine & Container Terminal Operation

Employment Growth for 2024: 4.0%

Ongoing trade liberalization, global economic expansion and growing Asian economies have been the main factors propelling global marine and container terminal operators. However, slower global growth tempered industry expansion, while uncertainty due to geopolitical tensions further setback industry performance. The COVID-19 pandemic's disruptions to international trade led to major volatility as shipping volumes surged following a contraction in 2020. As a result, revenue has increased at CAGR of 3.2% to $67.0 billion through the end of 2023, including a 3.0% increase in 2023 alone as trade flows remain elevated.

Steadily rising levels of global consumer spending and production activity contributed to... Learn More