Your guide to growth industries in 2023
The Australian economy is always evolving and this affects our jobs. So how can you stay ahead of the curve?
By keeping up with the latest news and understanding growth trends, you can approach the job market with confidence and land a role with real staying power.
Here are some of the top growth industries nationally in 2023!
Social enterprise
Purpose-driven work is in! In 2022, 79% of certified Australian social enterprises increased revenue between certifications. More growth is on the way.
Governments are investing more in social enterprise organisations, and the result is a rapidly expanding force for change. As a nation, we’re putting our money where our mouth is to support causes that matter for the good of the planet and its people going forward.
According to Social Enterprise Australia, new job opportunities are becoming available for people who work across environmental care, people-centred services, community-led innovation and access to decent work.
Every year, social enterprises contribute a whopping $21.3 billion to the Australian economy. There are now over 12,000 for-purpose social enterprises in Australia, accounting for more than 206,000 jobs.
Digital technology
Technology is a fast-growing sector, both in Australia and around the world. In fact, technological advancement has the power to transform other industries with automation and digitisation.
From tech products to cybersecurity and everything in between, tech continues to thrive with demand increasing for skilled professionals in the industry. By 2024, it is estimated that Australia will be home to more than a million tech workers.
The added benefit of technological expansion is sector diversity. Digital technologies have a direct impact on important national interests, from security to economic growth and social cohesion.
The advancement of machine learning and artificial intelligence intelligence are only expected to further fuel the expansion of technology as an Australian industry leader.
Arts and creativity
The Aussie arts industry is thriving in a post-Covid world, with research indicating that employment growth in creative industries is occurring at more than double the speed of the rest of the workforce.
In the 2021 Census, 5.9% of Australians were working in the creative economy, accounting for 714,632 people. From music and art to publishing, broadcasting, design, architecture, advertising, and more, the sector is far reaching.
As the Australian government continues to support arts and culture pursuits, further industry growth is likely, including a mix of full-time, part-time and self-employed workers.
Contributing more than $90 billion to the national economy every year, it’s easy to see why the widespread creative sector remains a priority for ongoing development.
Healthcare and wellness
Australia’s healthcare industry is on track to boom. Employees in this sector are in high demand, meaning that there are plenty of opportunities for workers.
Currently, 1 in 7 Australians are working in a healthcare-related field, with 30% of the nation’s healthcare and social assistance employees working in hospitals across the country.
Particularly strong growth is indicated for professionals in the nursing, mental health and aged care sectors.
In 2023, the Australian healthcare industry is worth a market size of approximately $197.8 billion. Predictions indicate an expected 3.9% industry growth rate until 2024.
Find more insights
Want more insights on the latest employment trends? Visit the Heart Talent blog now.