In the existing labour market, your choice of career is arguably the single most important that you will ever make. With graduate unemployment spiralling in the Western world and a paucity of permanent or long-term job opportunities damaging the market, plotting a well thought out and clearly defined career path is absolutely pivotal.
Aside from the wider economic and labour market issues, there are also unique characteristics that define each job type and industry. While some industries such as software design have grown consistently for the last decade, for example, there are others that are cyclical and tend to fluctuate wildly over a prolonged period of time.
3 Industries that will continue to Thrive in 2014
With this in mind, and given the pressing need to source a viable career with potential, let’s look at three industries that will continue to grow in 2014 and beyond:
There are two main reasons that underpin growth in the insurance sector, with the first being that this type of financial product is essential for protecting investments and the consumers’ well-being. In addition to this, leading players within the market are continually innovating to develop new products that serve a far wider market. Diversification is central to incremental industry growth, and products such as commercial and business insurance have evolved considerably in recent times. With a growing range of niches and job types available, pursuing a career in insurance can afford you access to success and prosperity. To make your mark in this sector, consider targeting a specific area before gaining the necessary advanced financial qualification and accreditation.
- Real Estate
Another diverse industry, real estate differs from insurance in that it tends to be cyclical in terms of growth and depreciation. It is certainly booming at present, however, thanks to the continued expansion of the global property market. While growth in some nations such as the UK appears to have peaked in the second financial quarter, however, property values have soared nationwide and triggered a windfall for investors and brokers alike. This has also triggered a rise in the demand for rental homes, which in turn has made real estate brokerage a viable career path for trend-conscious job seekers. With landlords now diversifying by separating large homes into single room studios as a way of maximizing short-term income, the need for effective realtors is likely to grow further in the year ahead. This industry is competitive, however, so you will need to be tenacious in your approach and capable of selling yourself ahead of rival candidates.
- Beverage Manufacturing
Not only is this the most interesting inclusion on the list, but the fact that the beverage manufacturing industry grew by 20% in 2013 is also highly surprising. This is because the overall manufacturing sector declined considerably during the same period, as the global economy struggled to recover from the ongoing impact of the Great Recession. This has had little impact on the drinks industry, however, where there is no more competition than ever from alcoholic and energy beverages to health-conscious juices and smoothies. The most compelling aspect of this industry is that there is such a huge diversity of jobs available, from entry level factory roles to those focused on research, development and innovation. This means that it is suitable for individuals with a varied academic background, although you will need to plot your career and training path with specific job roles and a long-term goal in mind.