The UK has undergone many changes since lockdown first hit in March 2020. This has changed the way businesses work and the way people consume which, in turn, has changed the way different industries grow. Many businesses have struggled to survive the lockdowns, with some closing their doors for good particularly in the hospitality and tourism industries. But how are things looking now that the UK has opened back up? What are the fast growing job markets? Where are you more likely to find job stability in this volatile market?
Let’s take a look at some of the fastest growing industries in the UK in 2021:
- Pension funding
- Construction contractors
- Artificial intelligence
7 growing industries in the UK in 2021
It seems that, despite the pandemic, retail sales have soared over the past year. Whether online, in-store or supermarkets, research showed retail sales had grown by 9.5% year on year in February 2021. To help keep the show running, job opportunities connected with the retail industry, such as cashiers and customer service, are in plentiful supply.
Despite ecommerce sales growing steadily over the past decade, the lockdown restrictions and closure of stores in 2020 accelerated the trend! Amazon alone increased its sales in 2020 by over $100billion. With platforms like Instagram now offering online shopping, it seems ecommerce has no intention of slowing down any time soon. This means that app developers, web developers, and online customer service agents all have a role to play in this booming industry.
Following the growth in online sales, there must also be a growth in the logistics sector. More HGV drivers are now on the road to meet the growing demand. Logistics contributes £127 billion worth of revenue to the UK economy and this figure is expected to increase. As a result of the increase in online sales and Brexit, there are plenty of career opportunities in the logistics industry, as well as increasing numbers of incentives to entice people to take up work in the industry.
4. Pension funding
Whilst it’s not the most glamorous or interesting industry out there, pension funding is still a market that’s full of opportunity. In fact, the UK has the third largest pension market in the world. Although the growth of this industry slowed down in 2020, it still continued to grow at a steady rate despite the economic conditions.
5. Construction contractors
Construction projects continue to be in demand, even throughout the lockdowns. Although many projects were delayed due to a shortage of supplies, the demand for construction workers was still high. This industry is expected to continue flourishing as it caters to new housing projects, building maintenance and civil engineering.
6. Artificial intelligence
AI companies have seen huge growth over the last decade, having more than doubled in quantity in the UK over a ten year period. The same data valued the industry to be worth £15.6billion in 2020. With more businesses looking for ways to automate processes, there is much room for this industry to grow into. Software developers and programmers are two professions driving this 4th industrial revolution.
It’s no surprise the healthcare industry is growing. With an aging population, there’s a growing need for more care workers as well as hospital staff. This is one of the most strained industries in the UK. From private carers to doctors to nurses to therapists, there’s a wide variety of career opportunities for people to explore.
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