Andrew Griffiths
IBIS World Forecasts the top 5 industries set to fly in 2010/11.
With the new financial year upon us, business information research and analysis group IBISWorld has compiled its annual list of Australian industries set to fly and fall in the next 12 months. According to IBISWorld, organic farming will be the biggest winner in 2010-2011 as Australians consider the health benefits and environmental impacts of their food choices, while insulation services will be the biggest loser following the federal government’s scrapping of its Home Insulation Program. Also, IBISWorld forecasts wildly contrasting fortunes for major industries in Australia’s communications sector.
Whereas most of the world’s developed nations remain bogged down by the fallout from the ongoing global financial crisis, Australia’s outlook for the new financial year is relatively positive says IBISWorld, with it forecasting Australia’s economic growth to reach 3.7% in 2010-2011.
According to IBISWorld, the Australian industries set to fly and fall in the new financial year include:
| IBISWorld forecasts Australia’s top five growth industries in 2010-2011 | |||||
| Rank | Industry | Revenue growth (%) | Total revenue ($ billion) | ||
| 1 | Organic farming | +15.1 | 0.45 | ||
| 2 | Online information services | +8.7 | 1.56 | ||
| 3 | Insurance brokerage | +7.2 | 11.20 | ||
| 4 | Mobile telecommunications carriers | +6.9 | 19.60 | ||
| 5 | Alternative health therapies | +6.5 | 3.46 | ||
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IBISWorld forecasts Australia’s bottom five growth industries in 2010-2011 |
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| Rank | Industry | Revenue growth (%) | Total revenue ($ billion) | ||
| 1 | Insulation services | -24.1 | 0.84 | ||
| 2 | Wired telecommunications services | -4.8 | 11.10 | ||
| 3 | Paper manufacturing | -3.1 | 2.68 | ||
| 4 | Video hire outlets | -3.1 | 1.04 | ||
| 5 | Grape growing | -3.0 | 1.50 | ||
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