The global economy has made international trade, tourism, and other industries more crucial than ever. In the past decade or so, many different countries have seen a surge in economic activity that is currently only rivaled by China. Find out what industries are going strong in various places worldwide and why?
Fast Food
Fast food is one of the fastest-growing industries. Major fast-food chains such as McDonald’s and KFC are expanding either through new locations or upgrades for older sites. Companies like Yum Brands, which owns KFC, Pizza Hut, and Taco Bell, see steady growth in profits.
In addition to expanding into more locations, fast food companies also increase the number of menu items they offer. This has raised the fast-food market to even more customers than previously thought possible, e.g., KFC in Iraq, which has boosted the economy in Iraq, according to dinar intel.
Green Energy
The renewable energy industry is booming in the world right now. This industry is so profitable that, in the United States, it has created more than 200,000 new jobs since 2010.
Green energy is vital to the environmental consciousness of many people worldwide, and government incentives have helped bring green energy technology to market more efficiently. Wind turbines and solar farms are just two examples of how technology has been improved and made more efficient to create renewable energy.
The Fashion Industry
In the fashion world, one of the fastest-growing industries is streetwear. This trend has been picking up steam for some time and continues to gain popularity impressively. Some of the most popular streetwear brands are Supreme, which is known for its bold graphics, and Bape, which has become a globally-recognized brand since its launch in 1993.
The streetwear industry is considered at higher risk than the fashion industry. However, it is also expected to provide the highest return and has become the norm in the fashion world.
The Movie Industry
Another industry doing very well right now is the movie industry. Many movies have been breaking box office records in recent years and have brought in over $1 billion+ worldwide. More people than ever are going to the movies, spending more than ever watching them. The movie industry is expected to continue to grow as people continue to flock to the theaters.
The Tourism Industry
Tourism has grown to be one of the most prevalent and lucrative industries in many different countries worldwide. London alone relies on tourism for roughly 10% of its GDP, which is a staggering figure.
The United States is heavily reliant on tourism, creating jobs in Miami Beach, Las Vegas, and New York City. In many of these areas, the tourism industry is entirely on its own. Tourism is an industry that has come to rely on the internet, which has made it easy to post and make it a globally-known brand. The tourism industry is one of the most significant industries globally and is expected to continue growing at an incredible rate.
The Lumber Industry
Due mainly to the housing crisis, lumber was one of the most robust industries in the past few years. The high demand for lumber and wood has made it a lucrative industry. The lumber industry is one of the most robust industries globally, with many wood products being used for items such as furniture, flooring, and door frames. Lumber is also essential building material for the construction industry.
The Watches Industry
The watch industry has been booming over recent years due to a growing demographic of people fine-tuning their fashion sense and buying their first luxury timepiece. Recognizable luxury brands such as Tag Heuer have dominated the market for decades.
With more timepieces being bought and sold, more people are involved in the watch industry. There is an unlimited amount of demand for people looking to buy their first timepiece and those looking to upgrade from a cheap watch to something more prestigious.
Video Games
Lastly, one of the most profitable industries right now is video games. More and more people play video games on consoles, computers, and hand-held devices every year. The popularity of video games will continue to grow.
