If you live in Australia and you would like to invest or get involved with one of the most profitable industries, you are on the right page. Here we will list all the most profitable industries in the country and try to understand why they are so profitable. Without further ado, let’s begin.
Finance
Finance industry is where the biggest part of money is, obviously. This industry is usually the most profitable in any country on the planet and we believe it will remain as number one. In 2020, the total profit in Australia, in the finance industry only was over $49.5 billion. The market size is $196 billion and the increase per year is usually 1.4%. We say usually due to the fact the COVID19 pandemic has a negative effect on the industry. We can see a decrease in subdivision revenue by 4.6% this year.
However, we also believe that this industry will recover the quickest after the pandemic is over. There are over 49.661 businesses in this industry, meaning that the recovery is almost guaranteed. Just to add, over 211.443 people work in this industry!
Gambling industry
The gambling industry in Australia has a value of $24.8 billion, and is rapidly rising due to COVID0-19. A steady increase of 0.5% has been present for a couple of years and it will remain present indefinitely. The reason is obvious. Australian people love to gamble. As such, the best online pokies, among many other games are offered 24/7. In one year, the whole nation will bet around $242 billion. The most common bets are placed on pokies and casino games in general with over 181 billion stake. Races are the second most popular betting option and finally, we have sports betting.
Over 6.8 million people across the country are regular gamblers, meaning they gamble on a regular basis. Most gamblers are aged 50-64 while older people love to gamble as well. As a result, we can see online casinos that are very easy to use, appealing, and come with all the games gamblers love to play. Of course, this is a clear advantage for all age groups.
Professional service providers
Here we have another industry in Australia that has been measuring a steady increase in profit and demand for a long period of time. The market size is $179 billion and there are over 273.883 businesses in this industry. The increase was steady at 2.1%. Once again, we can see that the pandemic will affect the industry. However, there won’t be massive losses or anything similar and the recovery will be fast.
Just to clarify. This industry involves offering technical, scientific, or in general, professional services to all kinds of businesses in the country. In 2020 the total profit was around $40 billion which puts the industry at the top of the most profitable industries in the country. If you are planning to make a massive profit, this may be an industry to consider. There are also a lot of people working in the industry. Over 900.000 people work.
Iron ore mining
Iron ore mining is definitely an interesting industry and the one we expect to see on a list like this. The industry is obvious and simple to define. It involves mining the iron ore, processing it, and managing it. In Australia, the biggest part is exported and this direction has been used for decades. The industry brought over $37.7 billion in 2020.
The increase in profit was steady at 1.7% for a period of time of 5 years. Sadly, due to the Coronavirus, the industry has reported a decline of 8.7% which is massive. The overall value of the industry is $83 billion and there are 88 businesses here, which is very low. Only 29.200 people work in the industry. Compare these low figures with a high profit and high market value and you can get a clear idea of how profitable iron ore mining is a successful business.
Health services
This industry is based on various health services including hospitals, which contribute the most to the industry. The profit in 2020 is $10.6 billion. Keep in mind that dental services are also part of this industry. It measures an increase in profit of 1.4% per year.
The industry’s market share is $150 billion and there are over 797.180 people working in the health sector. There are 133.717 businesses if we may call them that. The bottom line is, this industry is profitable and it will remain profitable indefinitely, obviously.
Conclusion
Now you know which industries are the most profitable in Australia. They dominate the country and they have been known for high market values, thousands of employees, and also high-profit margins. If you like profit, you may want to become involved with one of these industries.