Home Articles Meet the industries set to soar this financial year. (Booh-yah online shopping,...

Meet the industries set to soar this financial year. (Booh-yah online shopping, green energy and internet publishing. Yippee!)

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If you weren’t among the industries set to sink this financial year, these are the areas “destined for greatness”,according to corporate soothsayers IBISWorld.

And so, without further ado, the nominees are…

Superannuation Funds

Latest forecasts indicate that superannuation funds’ revenue will most likely grow in tandem with the growth of Australian and global share markets. Yes, we know these markets are highly volatile but do not forget the share market drops in 2012-13. This means we are starting the new financial year from a low point – a good position from which to generate solid returns.

Iron Ore Mining

IBISWorld forecasts revenue growth of 22.9% for iron ore mining this financial year thanks to growing demand for steel from emerging nations like China. Mining capacity is also likely to rise this year due to recent heavy investment in mining sites, such as BHP Billiton’s Jimblebar mine and Rio Tinto’s Brockman 4 and Western Turner Syncline sites.

Online Shopping

Online shopping has been on a roll for the past few years and is yet again forecast to post solid growth of 13.3% this year. With rural high-speed internet penetration on the rise thanks to the roll out of the National Broadband Network and the huge numbers of traditional retailers setting up shop online too, the pieces are definitely falling perfectly in place for this sector.

Internet Publishing and Broadcasting

In 2013-14, IBISWorld anticipates Australia’s internet publishing and broadcasting industry will grow by 12.7%. Accelerating internet speeds and growing accessibility are attracting more users to audio and video streaming to attract additional users and paid subscription services are making more sales! Plus, internet publishing is so easy that most existing publishers are very likely to move online.

Wind and Other Electricity Generation

Strong industry assistance via the Federal Government’s Renewable Energy Target scheme (which mandates a minimum amount of energy key users must purchase from renewable sources) is driving growth for wind and other electricity generators. So unless there is significant policy change, the winds of good fortune will continue blowing for this sector.

Well there you have it from the soothsayers, now only time will tell if these live up to their expectations. So what about the other side of the coin? Which industries are “destined for doom”?

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