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Global Fastest Growing Industries by Revenue Growth (%) in 2022


Table of Contents
Global Airport Operation
Global Hotels & Resorts
Global Travel Agency Services
Global Tourism
Global Airlines
Global Casinos & Online Gambling
Global Commercial Aircraft Manufacturing
Global Semiconductor & Electronic Parts Manufacturing
Global Deep-Sea, Coastal & Inland Water Transportation
Global Cheese Manufacturing

1. Global Airport Operation

2022-2023 Revenue Growth: 47.2%

The Global Airport Operation industry has experienced complex operating conditions over the five years to 2021. Rising levels of airline passenger traffic through much of the period enabled airports to earn significant revenue through passenger charges and services provided directly to airlines. At the same time, improving economic conditions increased corporate profit and fueled global manufacturing activity, causing airlines to operate more flights to transport greater quantities of cargo. However, the COVID-19 (coronavirus) pandemic completely disrupted the industry over 2020, causing revenue losses of more than 50.0% in that year alone.

2. Global Hotels & Resorts

2022-2023 Revenue Growth: 40.6%

Over the five years to 2021, the Global Hotels and Resorts industry is anticipated to experience declining revenue. Initially, strong growth between 2016 and 2019 occurred as both consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This culminated in a substantial increase in both travel rates and hotel room and occupancy rates, two indicators of a hotel’s performance. Global tourist arrivals were also steadily increasing between 2016 and 2019 until a drastic drop in 2020 due to the global spread of COVID-19 (coronavirus).

3. Global Travel Agency Services

2022-2023 Revenue Growth: 40.4%

The Global Travel Agency Services industry has experienced revenue decline over the five years to 2021, all while the industry’s core services dramatically changed due to consumers using online channels to research and book travel. Online booking agents now play a much larger role within the industry, alongside traditional brick-and-mortar travel agencies. International tourism grew strongly prior to the COVID-19 (coronavirus) pandemic, which is expected to severely cut into revenue over 2020, followed by a rebound of 35.1% in 2021 as the economy returns to normal.

4. Global Tourism

2022-2023 Revenue Growth: 27.4%

The Global Tourism industry is expected to decrease an annualized 4.3% to $1.3 trillion over the five years to 2021. Global tourism has performed well during most of the five-year period, with emerging economies continuing to stimulate growth. Moreover, countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. However, due to the COVID-19 (coronavirus) pandemic, industry revenue is expected to decline nearly 50.0% in 2020.

5. Global Airlines

2022-2023 Revenue Growth: 25.4%

Despite rising levels of airborne passenger and cargo traffic throughout much of the period, revenue for the Global Airlines industry has declined over the five years to 2022 as volatile fuel prices and growing competition, as well as the COVID-19 (coronavirus) pandemic, have placed downward pressure on airline ticket prices and freight shipping rates. At the same time, recent growth in global per capita income, in addition to other solid macroeconomic indicators, fueled demand for airline passenger transportation prior to the pandemic.

6. Global Casinos & Online Gambling

2022-2023 Revenue Growth: 14.9%

Over the five years to 2022, the Global Casinos and Online Gambling industry shifted from the United States, specifically Las Vegas and Atlantic City, to China, more specifically, Macau. A wave of recent casino openings in Macau has propelled this shift. As of 2022, there are 36 casinos located on the island. Additionally, two mega casino developments in Singapore already rival casinos in Las Vegas, and Japan recently legalized casinos, raising the potential for billions of dollars in new investment. However, some Asian governments, such as that of China, limit domestic access to casinos.

7. Global Commercial Aircraft Manufacturing

2022-2023 Revenue Growth: 14.6%

The Global Commercial Aircraft Manufacturing industry is involved in manufacturing, rebuilding and maintaining planes, helicopters, aircraft engines and various aircraft components and subsystems for the commercial market. Over the five years to 2022, industry revenue is expected to decline at an annualized rate of 3.1% to $298.3 billion. The outbreak of COVID-19 (coronavirus) has led to reduced sales due to lower demand from downstream markets and supply chain issues. The industry experienced a partial recovery in 2021 due to improvements in the global economy and worldwide efforts to constrain the spread of the disease.

8. Global Semiconductor & Electronic Parts Manufacturing

2022-2023 Revenue Growth: 14.0%

In the Global Semiconductor and Electronic Parts Manufacturing industry, demand for downstream consumer electronics, automobiles, computers and industrial machinery has risen, as global per capita income and internet connectivity have increased over the five years to 2022 and have driven downstream demand. However, fluctuating product and input prices have led to oscillations in industry revenue, resulting in revenue declining before the current period, only to recover in 2017 and 2018 as memory prices soared before sharply falling again in 2019. In 2020, while the COVID-19 (coronavirus) pandemic led to widespread global economic damage, industry revenue grew.

9. Global Deep-Sea, Coastal & Inland Water Transportation

2022-2023 Revenue Growth: 12.1%

The Global Deep-Sea, Coastal and Inland Water Transportation industry, which transports cargo and passengers across the world’s waterways, has experienced strong growth over the five years to 2022. Rising global per capita income and increased production activity among the world’s most developed economies have increased demand for industry services. Following the initial drop in industry experienced in 2020 due to COVID-19 (coronavirus) pandemic-related disruptions to trade, the industry experienced a boom in demand for shipping services and historically high shipping rates in 2021 as global economic recovery got underway.

10. Global Cheese Manufacturing

2022-2023 Revenue Growth: 9.0%

The value of the Global Cheese Manufacturing industry has grown over the five years to 2022, primarily as a result of stable demand for dairy products, improved per capita consumption of cheese worldwide and continued product innovation. Overall, IBISWorld estimates that industry revenue has increased an annualized 0.7% to $133.2 billion over the five years to 2022, increasing 5.0% in 2022 alone. While the industry experienced volatility over the past five years, it managed to remain fairly resilient amid COVID-19 (coronavirus) pandemic disruptions during the latter half of the period.

Source from IBISworld

The information set forth above is provided by IBISworld independently of Alibaba.com. Alibaba.com makes no representation and warranties as to the quality and reliability of the seller and products.

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