Fastest growing sectors in London & the UK
The business landscape is one of constant change, and these days change is sped on by the development of new technologies and of course, the information superhighway. Industries that in the past were dominant are suddenly obsolete while ones that were deemed niche just a few years ago are now an invaluable part of the economy. With constant change doing the rounds, it can prove challenging to figure out where a bright or prolonged future might lie. Nowadays a career can be forged in more than one industry thanks to the constant meshing of technology. However, as one’s career is an investment, you’d want some kind of assurance and that means knowing which sectors are experiencing the most growth.
If there’s one industry that’s never going to disappear and continues to showcase fast growth, it’s construction. A 2019 study revealed that UK construction has experienced an upward trajectory of note. In fact, it was revealed that between 2016 and 2018, 30 000 construction businesses were setup. This means that the construction industry makes up almost 13% of all London and UK businesses. According to the UK government, an all-time output high of £14 billion was achieved in late November 2018 and while such numbers have not been achievable in the last year and a half, the likelihood of a return to form is high. If you’ve got a background in building work, architecture or engineering, construction is and remains a booming industry.
Fintech, short for financial technology has become a real buzzword. Financial technology has changed a lot over the last 10 years and it can be seen in various sectors of the economy. Banking in particular has utilised fintech in order to make the client experience a lot easier while also cutting costs. Fintech has also extended its reach into the stock market through online brokerages which make it possible for more members of the public to partake in the machinations of financial instruments. FTSE 100 and London Stock Exchange companies which in the past would have been almost inaccessible by the general public can now be traded on thanks to breakthroughs made in fintech. In fact, the London Stock Exchange conducted a survey and found that UK-based fintech companies experienced a growth of 88% between 2018 and 2021. The majority of the surveyed portion chose London as their base for operations. If you’ve got a background in finance, web development or app development, then fintech can hold great promise.
Hot on the heels of fintech would have to be digital marketing. It’s an industry that’s practically changed the face of marketing and advertising, but also ones that’s evolved out of the climate of online businesses and e-commerce. As the internet has come to be relied upon for a lot more of our business endeavours, so has the need to market and advertise services within the online space. Print might still be around but it’s taken a back-seat to digital and it doesn’t look as if there’ll be a role-reversal any time soon. Digital marketing is in essence an umbrella term for a slew of various forms of online advertising including things like Google Ad words, affiliate marketing, SEO (search engine optimisation) practices and social media. If you’ve got marketing experience, web development experience and/or app development experience, or copywriting and blogging experience, then the world of digital marketing can avail itself to you. London and the UK are among the biggest growth industries in terms of digital marketing.