Australia and New Zealand are both experiencing incredible growth in several key industries. Find out exactly which ones right here.
Several key industries in Australia and New Zealand are currently experiencing tremendous growth, and although some of these rapid growth industries that are fuelling both economies are the same, others are completely different and are more successful in one country than the other.
With that in mind, let us delve straight in and discover Australia and New Zealand’s fastest-growing industries.
What Sectors Are Booming in Australia and New Zealand Right Now?
We can start by looking at some of the key sectors that are currently booming in Australia, and then we can move on to New Zealand.
Australia:
- Renewable energy – as the country looks for innovative and more sustainable new energy sources such as wind and solar power solutions, and implements them into society and infrastructure, the renewable energy sector is continuing to thrive
- Technology – thanks to continued investment from local and international businesses in areas such as cloud computing and artificial intelligence (AI) to bring about a digital transformation, the IT sector is burgeoning
- Healthcare – one of the key sectors of healthcare that is currently experiencing incredible growth is aged care
- Tourism – another key industry that is undergoing a period of resurgence is tourism, particularly unique experiences and eco-tourism
- Construction – thanks to a strong focus on the country’s infrastructure development, the construction industry is showing impressive signs of growth
Australia still has a demand for physical retail, along with growing sectors across e-commerce, education and training, and virtual reality.
New Zealand:
- Accommodation and food services – this sector continues to grow and create new employment opportunities
- Health care and social assistance – this sector is also a major contributor to New Zealand’s growing economy
- Forestry and Logging – a global demand for timber and wood products is helping this industry grow at a rapid rate
- Construction – continued development of residential properties and key infrastructure projects has helped the construction industry grow
Some of the other key sectors that are also growing in New Zealand are food manufacturing, electricity, gas, water, and waste services, biotechnology, renewable energy, tourism, technology, agribusiness, and digital entertainment, to name a few.
Why Is Digital Entertainment Outpacing Traditional Industries?
The term digital entertainment refers to any form of entertainment activities (e.g., games, movies, TV shows, social media, and so on) that people experience through digital devices, such as Wi-Fi/internet-connected PCs, mobile devices, consoles, smart TVs, and so on, which often require an internet connection so they can access digital entertainment platforms.
Online casinos, for example, or movie streaming sites like Netflix are prime examples of digital entertainment platforms.
When Casino.org looks at New Zealand or Australia for their best digital entertainment platforms that citizens have access to, it finds that there are plenty of options available, and a common technique used to encourage players to sign up is to offer various attractive online casino bonuses and other digital incentives for new (and existing) players.
Digital entertainment is quickly outpacing other industries in terms of growth because of a combination of factors, such as technological advancements, accessibility, convenience, enhanced cybersecurity, and data protection. Additionally, experiences have become far more personalised, rewarding, socially interactive, immersive, engaging, and entertaining.
How Are Casino Bonuses Fuelling Online Growth in New Zealand?
In New Zealand today, the most lucrative new player welcome bonuses that are currently up for grabs on countless casino sites that are controlled by reputable operators typically have low to medium wagering requirements attached. They offer more value, meaning New Zealanders now get more bang for their buck when claiming these optional bonuses.
Besides the initial sign-up bonuses, New Zealanders can also take advantage of many other ongoing bonuses, such as loyalty rewards programs, daily log-in bonuses, birthday and anniversary bonuses, one-off bonuses and promotions, and many other generous offers, which have made these sites more appealing than ever and help fuel the growth of online casinos.
Are These Growth Trends Sustainable in a Changing Regulatory Environment?
New Zealand has a rather complex and strict approach towards online casino gambling. However, in 2024, the government announced plans to regulate sites like this, meaning citizens who want to play at online casinos won’t have to settle for playing at offshore iGaming platforms that fall outside of NZ jurisdiction.
If New Zealand authorities were to regulate this sector of the digital entertainment industry, it would open up the iGaming sector here, and experts predict that growth trends would be sustainable and contribute significantly to the country’s economy.
What Can We Learn from How These Industries Have Evolved?
Some of the key things that we can learn from how each of these key industries in Australia and/or New Zealand has evolved and continued to grow are that it is important to come up with better regulatory frameworks, develop and maintain infrastructure, and leverage the latest ground-breaking technologies to push the boundaries of what is possible in each industry.
In other words, industries, businesses, and individuals must be willing to embrace the latest tech innovations and adapt to constant changes in the law, markets, and labour practices. They must also recognise the importance of the social and economic impact their operations, products, and services have, and to ensure continued growth, they must always foster learning and innovation.
Understanding how industries evolve can provide valuable insights into the dynamics of change, and teach us why it’s important to adapt and why it is important for sustainable and responsible practices.
Businesses can then better prepare for the future and contribute to a safer and more productive future.