Top 4 trending industries in Singapore in 2018

Top 4 trending industries in Singapore in 2018
PHOTO: Pixabay

Now that you’ve received your year-end bonus, you have probably made up your mind about whether you’re going to stay in your job this year, or leave in search of greener pastures.

But searching for a new job in 2018 isn’t just about spamming every single job ad and then taking the offer of the highest bidder.

No, you need to be strategic about which companies you apply to. That’s because industries rise and fall in Singapore faster than the tides.

Get a job in an industry that’s on the rise, and you could find yourself enjoying rapid promotions and a vertiginous ascent of the career ladder in the years to come.

Pick the wrong industry and you could find yourself retrenched, or just toiling away year after year for in a dead end job with no prospects for the future.

To help you out, here are the industries receiving a ton of hype in Singapore in early 2018.

FINTECH

Singapore’s status as a financial hub has meant that adapting to and profiting from fintech disruptors has been imperative.

Over the past few years, the number of fintech startups in Singapore has grown, and with it, the demand for workers with knowledge of financial products and markets, as well as those with tech, product management and digital marketing skills.

Some stalwarts to take note of include Flywire, which enables people to make and receive international payments online without incurring huge fees, TradeHero, a stock market simulation app and (ahem) MoneySmart, which enables users to compare loans, insurance and credit cards for free and apply for them at the click of a button.

So if you’re hoping to find work at a tech start-up, definitely consider one in the fintech space, as room for growth is tremendous and you’ll be picking up useful skills and knowledge that will enable you to tap into a wealth of fintech career opportunities.

CRYPTOS AND ICOs

No matter what you feel about the future of Bitcoin, Singapore has turned overnight into a hotbed of cryptocurrency startups, no doubt riding on the coat-tails of the fintech boom.

Some cryptocurrency startups to take note of include CryptoWallet, which enables users to buy bitcoin in shopping malls, FundYourselfNow, which is a cryptocurrency crowdfunding platform, and CoinGecko, which publishes cryptocurrency data and charts.

Cryptocurrency and blockchain technology only recently penetrated the mainstream consciousness, so it’s still early days, meaning there’s lots of room to learn and grow for those who are forward-thinking enough to start to build expertise in this domain right now.

START-UPS

Start-ups in general, whether soundly in the tech space or in-between, can be a good place to start or rejuvenate your career, especially if you choose the right business at the right time.

Entering an early or middle stage start-up means you have a good chance of being offered company shares, which also means that if the business makes it big, you’ll be making a lot more than your salary. Of course, if the business tanks, the same will apply to your investments, which is why it’s important to choose your employer with care.

The start-up space in Singapore has exploded. Many start-ups have snagged multi-million dollar funding offers and gone on to become household names, including CarousellHonestbee99.co and Redmart, to name just a few.

As an added bonus, start-ups usually boast a more casual, egalitarian and flexible working environment, which appeals to younger workers, in stark contrast to the stereotype of the old-fashioned SME.

While “start-up” doesn’t strictly have to mean tech start-up, the reality is that the fastest rising businesses that receive the most publicity are tech start-ups. That being said, any new business with plans to grow qualifies as a start-up.

FITNESS

Seeing more six-packs at Raffles Place these days? Well, the fitness landscape in Singapore has evolved dramatically over the past decade.

We’ve come a long way from the days when big gym chains like California Fitness dominated the fitness scene.

These days, Singaporeans are looking for more varied and more novel fitness options. Boutique fitness businesses are more likely to succeed than ever before.

Yoga, pilates, MMA and CrossFit have become immensely popular, and more bizarre-sounding fitness options like Bbounce Studio’s brand of rebounding fitness, pro wrestling fitness from Grapple MAX, ballet-inspired barre classes like what you’ll find at Barre2Barre, and SURFSET’s surfing-inspired workout are becoming increasingly common.

What’s more, the closure in 2016 of California Fitness, one of the fitness industry’s biggest players, has made more room in the fitness industry for smaller, boutique players.

Tech start-ups such as KFIT and GuavaPass have also cashed in on Singaporeans’ penchant for sampling and novelty by enabling users to sample a wide variety of fitness classes across many disciplines.

Thanks to an increasing preoccupation with health and fitness, especially from the affluent PMET demographic, the fitness landscape in Singapore looks set to grow further.

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