What Are The Fastest Growing Industries In 2023? @ Limkokwing University of Creative Technology

What Are The Fastest Growing Industries In 2023?

7 January 2023

What Are The Fastest Growing Industries In 2023?

The global coronavirus pandemic pushed the pace of change into overdrive – and heightened anxieties about how to prepare for the future of work. According to the World Economic Forum (WEF), more than a billion people will need to be reskilled by 2030.

“On average, companies estimate that around 40% of workers will require reskilling for six months or less and 94% of business leaders report that they expect employees to pick up new skills on the job.” – WEF, The Future of Jobs Report 2020. Increasingly, industries are turning toward technology to advance their business capabilities, and they need people skilled in developing, maintaining, and improving their technological systems. 

If you’re set to look for a new position, upskill, or re-skill in 2023, here are three booming industries in 2023 for some of the best opportunities:

Information Technology

Artificial intelligence, robotics and other tech innovations are reshaping work with likely mixed effects. Chatbots, robotics, artificial intelligence (AI), and other cognitive solutions are being used to add value and improve service and quality. Thus, employers and workers will require the necessary digital and soft skills to take advantage of the new opportunities they are expected to face. 

From delivering services and products, collecting and analysing information, to building healthy and connected societies through mobile and web applications, IT is the language of the now and future.
If you’re looking to pick up some IT skills, there are many degrees for it. You can choose from the Bachelor of Science (Hons) in Information Technology; or Diploma in Information Technology.

Digital Marketing

Many businesses are already mapping out their digital marketing plans for 2023 and beyond.

Digital marketing is constantly evolving. What’s popular one minute might be irrelevant the next. Today, the metaverse is one of the most talked-about trends in digital marketing. Brands like Starbucks and Nike have announced metaverse experiences.

TikTok has become a big player in the social media marketing realm. And that’s not about to change this year. The company generated $4.6 billion in 2021, a 142 percent increase year-on-year with 1.8 billion monthly active users predicted by the end of 2022.

If you’re interested in stepping foot into this industry and making a mark, then the Diploma in Multimedia, Advertising & Broadcasting or the Bachelor of Arts (Hons) in Professional Communication will be a good start.

Tourism & Hospitality

Global tourism arrivals will increase by 30% in 2023, following growth of 60% in 2022. With that, international airlines are expected to return to profitability, benefiting from continued pent-up demand.

According to the World Travel & Tourism Council (WTTC), 1 of every 10 jobs are in the hospitality and tourism industry, which also accounts for 1 in 5 of all new jobs created over the last five years. The tourism and hospitality industries need updated skills and technical know-how to manage their organisations in the “new normal.”

If you’re constantly daydreaming about a job that will take you around the world, then the Bachelor of Business (Hons) in International Business might be right up your alley!

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