When deciding on a career path in California, one of the most important factors to consider is the types of fastest-growing industries in this state. Pursuing a career in these industries can lead to a high-paying job that allows you to afford life’s luxuries and achieve a high standard of living.
As a result, there is an increasing demand for experts in various fields, and the fastest-growing industries will experience exponential growth by 2022.
If you’re thinking about getting an MBA, it’s a good idea to focus your studies on one of these thriving industries to ensure job stability for years to come. In this article, we’ll look at some of the industries in California that are expected to grow the fastest in 2022.
What Are the Most Rapidly Growing Industries?
California’s economy continues to experience recessions and depressions. As a result, many industries are experiencing a decline in growth while others consistently experience revenue growth.
Despite the economy-depressing pandemic, these industries are doing better, thanks to continuous technological advancements. Given their current trajectory, the sectors are poised to become the fastest-growing industries.
Top Future Industries
The world of careers is changing too quickly for slow-paced economies to keep up. Industries and jobs that were popular a few years ago are no longer available. As a result, as California’s economy changes, you must ensure that you equip and update yourself with the necessary skills.
Today, joining a corporation entails determining whether the industry will continue to exist in the coming years. Keeping up with the fastest-growing industries that will desperately need workers in the future is an excellent way to stay relevant and productive.
Let us explore the fastest-growing industries in California to keep an eye on in 2022.
Internet and Digital Marketing
In California, many individuals purchase items online. It’s a more secure option than in-person purchasing. As a result, websites and businesses require assistance to ensure that web-based sales generate revenue.
Furthermore, digital and internet marketing will shift to a more technological function in which learning and comprehending big data will be critical.
In addition, combining social and digital marketing platforms are the only way to stay relevant in the competitive online market. As a result, the demand for experts in data-driven design, digital marketing strategy, data collection and analytics, will increase.
With a background in digital marketing, you can explore opportunities in this service business, which is expected to expand employment by 33% post-pandemic. If you would love to work in the online industry, it doesn’t hurt to find a niche that might interest you. Say if you wanted to work in online casinos, you would need to do some research into the market and the companies you would want to apply for so that you find something at online casinos that suit you best. There are many niches out there that might be up your street, so it definitely helps to do some research and find your passion!
Hospitality and Tourism
California’s hospitality industry has long supported a thriving tourism industry. California is well-known as a vacation destination as well as a haven for the wealthy retired population. As people’s disposable income rises, so are the California tourism and hospitality industry.
California is a popular tourist destination for people from all over the world due to its beautiful beaches, national parks, well-known entertainment industry, and resorts.
Information Technology and Software
Software and information technology (IT) has emerged as a significant area driving hiring demand throughout California. Most companies and businesses now have an online presence that must be safeguarded and secured. As a result, they are proactive in protecting their company from external and internal threats.
California has long been recognized for Silicon Valley and its thriving technology and information industries. California is home to information behemoths such as Google and Facebook.
Aside from software and internet companies, there are technology companies that develop and construct electronics, computers, and other tech gear. As the world becomes more digital, the demand for technology and information will keep this business alive and developing at a rapid pace in California.
California is well-known for serving as a regional healthcare powerhouse. Its hospitals, nursing departments, and facilities serve patients from neighboring states.
Given the worldwide epidemic, it is hardly surprising that the healthcare business is expanding rapidly. Furthermore, with the addition of new community hospitals and polyclinics, the public health sector and the entire industry are expected to grow.
Due to the significant size of the aging population, jobs in the healthcare industry are rising at a faster rate than the general employment rates. California is not immune to this tendency. Because a substantial amount of healthcare spending is non-discretionary, the economy has little impact on this business.
However, recent advancements in the healthcare business have resulted in the emergence of a new healthcare technology industry, with electronic health records (EHR) serving as the driving force behind healthcare informatics and technology.
The Agriculture Sector
California has just emerged from a protracted drought. The availability of fresh and healthy water in California will assist the farming and agricultural sectors in returning to their position as the country’s leading producers of fruit, wine, nuts, and vegetables.
California is a leader in exporting as well as producing these foods for the domestic market. This business will become one of California’s fastest expanding industries now that it is less expensive to provide the irrigation needed to support agriculture.
The Construction Industry
The recession of 2009 particularly heavily struck California. However, the economic recovery has swept across California in recent years, and the building sector is back on track. Construction is California’s fastest-expanding industry, employing 5% of the private workforce.
As enterprises and civil plans get back on track, commercial building is the main force behind sector development.
Finance and Banking
California’s financial services industry has grown steadily as a result of the state’s political stability and pro-business atmosphere. There are approximately 5,200 open positions in the financial industry, with 96% of them devoted to PMET tasks such as risk management, compliance, relationship management, and financial analysis.
In addition, with the granting of digital banking licenses and a stable real estate market, the financial industry has numerous interesting changes, and there is more room for growth in 2022.
Whether you want to live and work in California, look into the state’s top expanding sectors and check if your job title falls into one of them. Despite recessions, droughts, and other natural disasters, California’s economy is booming. California’s industries outperform the national average.
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