The global employment market is not operating in a vacuum and you can’t even measure the depth of the complex environment it is thriving in. A job market encompasses industrial sectors, technology, supply chains, competitors and more than a handful of regulators and tax authorities. These important factors that influence the ongoing scenario in any job market located in any part of the world.
2014 reflected a not-so happening scenario in terms of fiscal as well as industrial growth but by the start of 2015, scenarios started to change. According to data by World Economic Forum, global economy is recovering now with US economy showing recuperation and Europe witnessing a steep growth. Moreover, the data also reflected that the emerging economies like Asian countries and the Middle East, to name a few, are witnessing accelerated growth.
This is the most favourable time for people who are looking out for job opportunities in a different nation with a hope to get high per capita income and an improved lifestyle.
Here’s an inside perspective for you:
Global Inc Synonymous to Growth & Prosperity
The industries operating in the Global Inc are flourishing in the current quarter and this success story will continue in upcoming times as well. The prosperity level is high to an extent that the profitability index is promising not only for existing companies but also for budding businesses. The factor clearly states that the employment market is set to see a boom with a pay scale to die for.
A fact pertaining to global GDP growth, which is both ‘sweet and sour’, yet promising:
Image Source: JP Morgan Economic Research
The current fiscal data is very promising and the Global Inc are riding high on the success of business collaborations, foreign based investments and consequent job production. Furthermore, governments of nations in different parts of the world are also joining hands to elevate the economic growth and thus are opening doors for new opportunities, investments and high migration rate.
Therefore, individuals who are working towards building a career in the current times need to know the promising industries and facts related to them. Moreover, the industries are also projecting good pay figures when analysed from both industry and company’s viewpoint.
Industries That Are Flourishing
- Tourism Industry
Tourism Industry is flourishing all over the world with nations hosting events and undergoing infrastructural makeover. It is reckoned that the upcoming quarters of 2015 and the years ahead will see this particular sector grow like anything. The GDP contribution made by the industry at a global level is more than 10% and this is the reason behind a range of job opportunities here. The Travel and Tourism Account or the TTSA has clearly indicated that the world tourism industry will grow and will produce a lot of employment options to choose from.
Financial Services Industry
The Financial Industry includes a wide range of companies and institutions that work towards offering their clients and general customers, money management, lending, investing, insuring and securities issuance and trading services. Supporting trade and commerce tasks across the globe, the financial services industry is all set to witness deregulation as well as technological breakthroughs that will transform the way the sector operates. There are a lot of job opportunities here and especially in the banking sector. Moreover, the banking industry is anticipating a positive outlook in the upcoming quarters in 2015.
- Construction Industry
The construction industry trends and analysis bespeaks certain facts that prove that the sector is flourishing and supports global economy in a great way:
- Contributes a huge monetary chunk to the world GDP that amounts to 1/10th of the same
- The hard fact reflects that the construction industry has the ability to offer employment to 7% of the total employed work force around the globe.
- Resource utilization in the construction industry is equivalent to half of the total resource used all over the world.
- The industry is expected to generate job in a country-specific fashion as well. For instance, keeping Dubai World Expo in mind, it is expected that job market in UAE is up for a change and a major boom
Moreover, the increased use of technology in the construction sector has paved way for IT graduates to expect fortunes in terms of jobs and a good pay scale.
- Oil & Gas Industry
The global energy demand is increasing at a steep rate and this is the only reason that has led the oil and gas companies to go for a number of upstream, midstream, downstream projects. There industry is looking forward to generating a good number of employment options for skilled people from different parts of the world. Companies like GE are stationing offices at prospective locations like Arab countries oil & gas czar Middle East and other federations. This has also led to a huge number of jobs for engineers, technology graduates and downstream professionals.
- Healthcare Industry
Healthcare industry is one of the noteworthy contributors in global economy and determines GDP of any country. Analyse in terms of projects that companies are undertaking or the employment options that is being produced, on all grounds the healthcare industry is prospering like anything. Apart from growing healthcare needs, increased creation of policies pertaining to occupational safety at workplace has also elevated the success quotient of the industry.
The global job market is asking for qualified physicians, nurses and shop floor employees. Apart from this, corporations are also in need of Health & Safety professionals who can take care of workplace occupational well-being department.
Golden Opportunities for Job Seekers
The Global Inc is flourishing at the moment. The companies within are operating in different verticals and this is enough for job seekers to be happy as the road to a dream job has widened. The profiles of the company operating in the mentioned industry look positive and the consumer behaviour in the current quarter yearns for more. All these factors are coaxing the industries to go for more and more new and innovative product lines and thus there are best and high-paying employment opportunities here.
About the author: Vineeta Tiwari, a professional writer and blogger, has deep interest in world economy and job markets. She has written research-based articles on hot economies and expat activities as well.