Industries with the Highest Growth in Employment in the UK in 2023

1. Conference Centres Letting & Operating in the UK

Employment Growth for 2023: 45.0%

Over the five years through 2023-24, revenue is projected to contract at a compound annual rate of 2.8% to £778.5 million. This contraction was mostly driven by COVID-19 disruptions causing revenue to plummet, which conference centres are yet to fully bounce back from. The EU referendum drove volatility in business markets, with many companies holding off on spending while market conditions were uncertain. However, conference centres continued to attract bookings; they drew in demand by investing in improving venues (renovating spaces, introducing new technologies, etc.). At the same time, the government was promoting the UK's reputation for hosting quality events... Learn More

2. Scheduled Passenger Air Transport in the UK

Employment Growth for 2023: 34.2%

Over the five years through 2023-24, scheduled passenger air transport revenue is anticipated to contract at a compound annual rate of 3.6% to £24.1 billion. The COVID-19 outbreak has had a devastating effect on airlines. Strict public health restrictions significantly cut demand for air travel during the first quarter of 2020-21. Despite showing signs of recovery during the second quarter of 2020-21 with the easing of travel restrictions, the re-implementation of domestic and international restrictions spurred a renewed slump in passenger numbers in the latter half of 2020-21.

Although passenger numbers remain fairly robust during weak economic conditions, changes in consumers'... Learn More

3. Non-Alcoholic Beer Production in the UK

Employment Growth for 2023: 32.5%

Per-capita alcohol consumption, income, price, health consciousness and consumer preferences drive non-alcoholic beer producers' performance. Over the five years through 2022-23, revenue is set to grow at a compound annual rate of 30% to £807.6 million, including growth of 34.2% in 2022-23, with the average industry profit margin hitting 19.7%.

Shrinking alcohol consumption per capita alongside growing health consciousness is paving the way for industry growth. Popular craft beer producers are rapidly introducing no-alcohol and sustainable beer varieties, driving growth in the non-alcoholic beer industry. During the COVID-19 pandemic, many consumers stuck at home cut out booze, dabbing into non-alcoholic beer... Learn More

4. Language Learning Software Developers in the UK

Employment Growth for 2023: 21.9%

The language learning software industry has boomed, with revenue estimated to hike at a compound annual rate of 17% over the five years through 2023-24. Its successful performance is partially due to the infancy of the industry, with the majority of language learning platforms being less than 10 years old. Language learning apps surged in popularity among consumers, providing a cheaper alternative to traditional face-to-face courses while offering greater flexibility to users with regard to the time they are willing or able to dedicate to language learning. The number of start-up developers has increased markedly, with many companies having attracted... Learn More

5. Building Societies in the UK

Employment Growth for 2023: 20.6%

Building society revenue is anticipated to increase at a compound annual rate of 9% over the five years through 2023-24 to £26 billion. Low interest rates prior to the COVID-19 outbreak aided demand, as residential mortgage repayments became more affordable and the number of mortgage approvals picked up. Building societies have also benefited from an influx of re-mortgaging activity, as homeowners have sought to lock in lower rates before expected interest rate rises. However, societies faced challenging operating conditions, including intense competition from other financial institutions like retail banks, and a tightening regulatory environment.

The COVID-19 outbreak hurt revenue in 2020-21... Learn More

6. Health and Wellness Spas in the UK

Employment Growth for 2023: 20.0%

The Health and Wellness Spas industry has benefitted from people caring more about their health. Wellness tourism has provided the industry with an expansive market of inbound clients attracted by spa towns and cities that have invested in contemporary and luxury spa businesses. However, over the five years through 2022-23, industry revenue is anticipated to decline at a compound annual rate of 0.2% to £7.6 billion. A sharp downturn in revenue was recorded in 2020-21 following the COVID-19 outbreak, which led to temporary closures of spas and social distancing restrictions. Following a significant increase in the two years through 2022-23... Learn More

7. Corporate Travel Services in the UK

Employment Growth for 2023: 17.3%

Interest in corporate travel deals is sensitive to business confidence. A poor economic situation and multiple shocks like the pandemic and Brexit have contributed to the contracting revenue for agencies. Demand for travel services is also influenced by the cost of travel, which has risen due to the low value of the pound and rising prices. However, the pandemic was the most significant factor contributing to the fall in revenue. Travel restrictions domestically and internationally during the pandemic caused the industry to come to a standstill, which it has struggled to recover from.

Demand from the industry's largest downstream market, the... Learn More

8. Bowling Alleys in the UK

Employment Growth for 2023: 17.4%

Bowling alleys revenue is anticipated to jump at a compound annual rate of 4.1% to £495.6 million over the five years through 2023-24. The industry is dominated by two major chains, Hollywood Bowl and Ten Entertainment. As a result, the industry's performance is heavily tied to their performance. Nonetheless, the industry has trended upwards, as bowling is a diverse out-of-the-house leisure activity, offering a competitively priced experience and broad appeal. The two major chains have expanded their number of UK bowling centres by over 10% between 2017 and 2022, fuelling revenue growth.

While the industry was near-enough halted during 2020-21 owing... Learn More

9. Department Stores in the UK

Employment Growth for 2023: 16.6%

Department stores face tough competition on all fronts from supermarkets, online-only retailers and specialist stores, which offer lower prices, broader ranges and greater convenience for consumers. Many department stores have ceased trading because of the challenging retail landscape, with the most notable industry exit being Debenhams in 2021. Weak real household disposable income growth has dented the prospects for department stores that rely so heavily on middle- and high-income families. The COVID-19 pandemic accelerated the high streets' demise, with department stores unable to operate for weeks on end during lockdown periods. Footfall figures remain still far below their pre-pandemic... Learn More

10. Online Recruitment Sites in the UK

Employment Growth for 2023: 16.0%

Over the five years through 2023-24, Online Recruitment Site industry revenue is anticipated to increase at a compound annual rate of 7.3%. Online recruitment sites have become increasingly popular and a mainstream way to find a job. While site operators can't charge candidates, having more registered CVs and website visitors allows online recruitment companies to command a higher fee from businesses for their services. Sites have prioritised expanding ancillary services to attract more clients and ensure successful placements. Regarding employment trends, government, healthcare, education, IT and technology, and the hospitality and tourism markets have been the driving force for demand... Learn More