After almost two years of health restrictions, social distancing protocols, and severe lockdowns due to the COVID-19, the world is finally recovering from this crisis, as people return to work and companies thrive once again. As we draw close to the end of the year, it’s time to start looking forward to 2022, and project which sectors will be able to quickly recover and record significant growth in the next year.
Over the centuries, the world has experienced several recessions and depressions that reshaped the economy. And this has been even more abrupt with the ongoing pandemic. As a result, the expansion of several industries has significantly slowed down. Fortunately, certain industries have been able to maintain constant revenue growth, and are expected to thrive in the following years. Despite the economy-repressing pandemic, some businesses are doing well thanks to continuous technology developments, thus becoming the fastest growing industries in the United States.
In addition to being the largest importer in the world, the United States is a target market for both developed and developing nations due to its position as the largest source of foreign direct capital. With a population of 328 million people and a GDP of over $19 trillion, it is one of the most important markets in the world, and certainly the most developed economy – which has the power to impact the whole world’s economy.
As vaccination rates increase all over the world, and things start to go back to normal, the following sectors are expected to record significant growth in the next few months and beyond. With rapidly-increasing revenues and productive workforces, the future certainly looks bright for these businesses.
Tourism
After almost two years staying home, people all over the world are eager to start travelling again, as travel restrictions are being lifted in many countries. Therefore, the tourism industry is projected to quickly recover, with revenues gradually returning to pre-pandemic levels.
The international airline industry demand has experienced significant changes, and in recent years, due to increased competition from international companies and chronic overcapacity in the freight segment, operators have been forced to cut ticket prices and rates. However, with the widespread recovery from the pandemic and mass vaccination efforts across the world, the demand in the international airlines industry is expected to increase in the next five years, with a projected 61.3 percent year-over-year growth.
Apart from that, hotels and casino resorts are also expected to benefit from the increased travel spending and overall consumer spending. With a projected year-over-year growth of 57.8 percent, hospitality services will certainly bounce back over the next few years, with the recovery of the economy and the increase in the number of tourists. In addition, casino resorts are also benefiting from a recent loosening in anti-gambling laws across the country.
Real-money online casinos
But it’s not just land-based casinos that are expected to thrive in 2022. Last year, with much of the world forced to stay inside to comply with social distancing measures, people turned to the online gambling industry, or iGaming, as a new entertainment option, with online casinos and sportsbooks becoming a safe alternative for both casual and hardcore bettors.
When online casinos and gambling websites were introduced, following the internet boom in the early 1990s, there were few trustworthy alternatives, and the iGaming industry was frowned upon by those who feared being scammed in these websites. Today, however, some of the best online casinos for real money have introduced state-of-the-art data encryption and security protocols, thus providing much safer platforms that are impervious to malicious attacks and data breaches.
What was initially seen as a shady business has evolved today into one of the most popular pastimes in the world, and an important market in the online entertainment industry, with specialists estimating global revenues to reach an astounding $93 billion by 2023.
Sustainability
According to a market research by NYU Stern School of Business, “sustainability-marketed products grew 7.1x faster than products not marketed as sustainable.” As awareness grows, more people than ever are conscious of the impact their actions have on the environment.
Another research, by market intelligence agency GWI, indicated that 52 percent of consumers want products with less or recycled packaging, 48 percent want more affordable eco-friendly products, and 44 percent want products with more natural ingredients.
Therefore, the sustainability market is projected to record significant increases in revenue, with opportunities for niche businesses offering local green alternatives, and even new eco-friendly products. Additionally, the global green technology and sustainability market size is expected to gain momentum by reaching more than $40 billion by 2028, according to GlobeNewswire.
