Home 2021 The ‘Fast Growth’ Industries in the US for 2021

The ‘Fast Growth’ Industries in the US for 2021

by Paul Ebeling

#economy #growth #business

We follow the Key industries around the world. And our clients and readers rely on our information and data to stay up-to-date on industry trends across the world” — Paul Ebeling

As the US reopens the following industries are getting on a fast track as growth has replaced glamour, tune in:

  • 1. US Airport Operations’ 2021-2022 Revenue Growth: 74.0% The Airport Operations industry has experienced healthy growth over the 5 yrs to 2020 as improving economic conditions have driven demand for airport services. Increased travel activity of both domestic and international consumers has stimulated flight activity and generated revenue through passenger charges and aircraft support services, while rising per capita disposable income has enabled consumers to spend more on duty-free retail outlets, car rentals and other nonaeronautical industry services. But, industry growth has been limited by the industry’s capacity constraints, which have created congestion and other inefficiencies at several major airports. Additionally, demand was nearly halted during the VirusCasedemic chaos but now people at flying again.
  • 2. International Airlines’ 2021-2022 Revenue Growth: 61.3%Demand for the International Airlines industry has experienced significant volatility over the 5 yrs to 2021. In recent yrs, mounting competition from foreign competitors and chronic overcapacity within the industry’s cargo transportation segment have forced industry operators to slash ticket prices and reduce freight shipping rates, causing industry revenue to decline. While competing enterprises were still able to generate growth during most of the period, unprecedented disruptions from the VirusCasedemic chaos will likely generate the most substantial revenue decline in industry history.
  • 3. Casino Hotels’ 2021-2022 Revenue Growth: 57.8% Revenue for the Casino Hotels industry has declined over the 5 yrs to 2020. Domestic competition has increased during the frame, as states that did not previously permit gambling have since loosened regulations. Meanwhile, competition from international gaming capitals that attract operators by offering tax exemptions for new establishments, such as Macau, is still significant. Moreover, the VirusCasedemic chaos has weighed on the industry, as all casino hotels were required to temporarily shutter in mid-March 2020. Consequently, industry revenue has decreased at an annualized rate of 10.9% to $34.8-B over the 5 yrs to 2020.
  • 4. Movie Theaters’ 2021-2022 Revenue Growth: 56.3% Due to social distancing measures associated with the ongoing VirusCasedemic chaos, revenue for the Move Theaters industry has declined over the 5 yrs to 2021. During most of the frame, the industry experienced growth due to rising per capita disposable income and the success of blockbuster tentpole films, drawing more moviegoers to theaters. Competition from substitute film viewing methods, such as an online streaming platforms, and other forms of entertainment has posed significant sources of external competition for the industry. But now theates are opening up and we believe people will go back to the movies in droves.
  • 5. Non-Hotel Casinos’ 2021-2022 Revenue Growth: 53.3%The Non-Hotel Casinos industry has been dealt a mixed hand over the 5 yrs to 2021, as various factors, including increased competition, have curbed spending at casinos. Long-standing casino operators have struggled over the past 5 yrs, mainly due to an influx of new casino hotels in states that have eased restrictions on casinos. As a result, industry revenue has decreased an annualized 5.9% to $15.2-B over the 5 yrs to 2021, including a decrease of 52.6% in Y 2020. During the frame, increased competition has also placed pressure on industry operators’ profit. Through Y 2019, gambling revenue increased.
  • 6. Tour Operators’ 2021-2022 Revenue Growth: 50.9% The Tour Operators industry experienced growth prior to the outbreak of the VirusCasedemic in March 2020. The industry benefited from rising disposable income levels and a strengthening global economy. As unemployment declined and consumer spending grew, domestic and international trips taken by US residents increased, bolstering demand for tour packages. Additionally, inbound trips made by non-US residents also grew as disposable income levels rose in countries in Asia, Latin America and Europe. But, the tourism sector as a whole has seen a sharp contraction in Y 2020 as lockdowns and travel restrictions within the United States and globally went into effect.
  • 7. Domestic Airlines’ 2021-2022 Revenue Growth: 50.0% Revenue for the Domestic Airlines industry has experienced significant declines over the 5 yrs to 2020. While most of the period has been characterized by expansion amid broader economic growth, the VirusCasedemic chaos caused unprecedented industry disruption. Operators primarily engaged in the scheduled transportation of passengers represent one of the most vulnerable industry groups in regard to the pandemic’s negative effects. As a result, industry revenue decreased at an annualized rate of 12.0% to $71.0-B over the 5 yrs to 2020, including an estimated decline of 53.8% in Y 2020 alone.
  • 8. Sightseeing Transportation in 2021-2022 Revenue Growth: 49.3% The Sightseeing Transportation industry provides a variety of ground, nautical and aerial sightseeing transportation for everyday consumers. Industry operators generally offer services such as bus tours, whale watches, helicopter rides, boat and dinner cruises and locomotive excursions. Over the 5 yrs to 2020, the industry benefited from improving economic conditions, including rising levels of per capita disposable income, which resulted in many consumers increasing their recreational expenditure. But, travel activity during the 5 yr frame decreased, most notably in Y 2020 due to the VirusCasedemic chaos, which restricted consumers from international and domestic travel.
  • 9. Travel Agencies’ 2021-2022 Revenue Growth: 48.3% The Travel Agencies industry revenue has experienced growth over the 5 yrs to 2020, as online booking agencies capitalized on increased demand for travel while traditional travel agencies worked to reinvent their business practices. The rise of online travel websites has revolutionized the industry. This trend has been amplified with the rise of mobile computing, because consumers are more likely to do their own travel research and seek affordable travel packages online. Consequently, many brick-and-mortar travel agencies have been forced to find new markets.
  • 10. Concert & Event Promotion 2021-2022 Revenue Growth: 45.2% Operators in the Concert and Event Promotion industry produce, advertise and manage a variety of live events and performances, including concerts, sporting events and public appearances. For the majority of the 5 yr frame between Ys 2016 and 2021, industry revenue experienced significant growth. Positive economic expansion fueled consumer discretionary purchases on live events and related performances. However, the VirusCasedemic chaos generated an estimated 69.0% revenue decline in Y 2020 representing unprecedented disruption for live event promoters across the United States. As the quarantine period has trickled into the current year, ongoing performance will depend on the speed and efficacy of the reopening of America.

Have a healthy day, Keep the Faith!

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