Global Industries with the Largest Number of Businesses in 2024

1. Global Commercial Real Estate

Number of Businesses for 2024: 7,327,030

The Global Commercial Real Estate industry has declined over the past five years. Specifically, investor confidence slightly declined over the same period as COVID-19 severely constricted demand. As a result, industry revenue is expected to slightly decline an annualized 2.5% to $4.3 trillion over the five years to 2023, including an anticipated increase of 1.6% in 2023 as the economy recovers from the coronavirus pandemic.

The growth of a country's economy tends to boost industry revenue since business expansions and higher consumer spending often creates demand for industry services, such as office leasing, sales and brokerage services. The strong expansion of... Learn More

2. Global Management Consultants

Number of Businesses for 2024: 3,437,411

Global Management Consultants provide advisory services to clients to help improve organizational performance. Consultants focus on organizational design, process management and corporate strategy topics. Over the five years to 2023, demand for management consulting services has increased, despite the onset of the COVID-19 pandemic in 2020. However, industry profit is expected to decline as wage pressure, competition, and reduced demand weigh on profit growth in recent years. Global economic growth was the primary driver of industry revenue throughout most of the period. In addition, while the COVID-19 pandemic drastically affected the global economy, the industry did not fare as poorly... Learn More

3. Global Accounting Services

Number of Businesses for 2024: 1,453,799

Global accounting companies commonly provide a variety of services, such as the preparation of financial statements, the development of budgets, consulting and the review of auditing records for small, medium and large businesses. Economic expansion in developed countries and high productivity growth in low-income nations fueled world GDP growth in the years immediately preceding the pandemic. As incomes rose, financial transactions, auditing and mergers and acquisitions increased, boosting demand for accounting services and aiding revenue growth.

Business activity fell during the COVID-19 pandemic since corporations were forced to shut down. Since corporate incomes were low, companies didn't have the money... Learn More

4. Global Engineering Services

Number of Businesses for 2024: 1,095,800

Engineering companies apply the physical laws and principles of engineering to design and develop structures, machines, materials, instruments and other processes and systems. Services also include providing advice, feasibility studies, designs and technical services for construction or development. The performance of the industry relies on investment trends and the overall health of the economy to fuel projects where engineering services are needed. Strong investment in major markets, such as the United States, Europe and East Asia, has driven industry growth in recent years. Global engineering services revenue has been expanding at a CAGR of 3.9% over the past five years... Learn More

5. Global HR & Recruitment Services

Number of Businesses for 2024: 1,075,311

HR and recruitment companies rely on a businesses' desire to outsource their recruitment process and human resource management activities. Their performance depends on their major market's economies and the impact these conditions have on labor. Regulation, especially for temporary employees, can hamstring providers, as this makes it more difficult to operate. More liberal labor laws in developed nations have been essential to HR and recruitment companies' growth. Large companies are now focusing on emerging markets that will undergo the same process in the future. COVID-19 put a halt to positive momentum in recent years, as businesses seeking to cut costs... Learn More

6. Global Insurance Brokers & Agencies

Number of Businesses for 2024: 991,042

Global insurance brokers and agencies play a critical role in the insurance market by distributing policies and consulting insurance underwriters and consumers. The revenue is mainly transaction-based and hinges on policy pricing, insurance demand and the use of agents and brokers in the distribution process. The pandemic negatively impacted the insurance industry, mainly driven by weakening per capita income, plunging consumer confidence and harming the health of the corporate sector. While technological changes have enabled brokers and agents to source products from multiple upstream underwriters, it has also enabled consumers to bypass agents and brokers during the insurance buying process,... Learn More

7. Global Tourism

Number of Businesses for 2024: 859,454

The industry will increase at a CAGR of 0.8% to $2.3 trillion over the five years to 2023, including a growth of 13.9% in 2023 alone. Global tourism has performed well during most of the five-year period, with emerging economies stimulating growth. Countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. But because of COVID-19, industry revenue collapsed 40.1% in 2020. The global outbreak had an enormous effect on all tourism-related industries as many countries suspended international travel and limited the... Learn More

8. Global Hotels & Resorts

Number of Businesses for 2024: 682,329

Over the five years to 2023, the Global Hotels and Resorts industry has expanded. Initially, strong growth before the pandemic occurred as consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This factor resulted in a substantial increase in hotel rooms and occupancy rates, two indicators of a hotel's performance. Global tourist arrivals were also steadily increasing until a drastic drop in 2020 due to the worldwide spread of COVID-19. In 2020 alone, industry revenue declined 40.1% due to the pandemic effect. The pandemic has enormously influenced all tourism-related industries, as many... Learn More

9. Global Travel Agency Services

Number of Businesses for 2024: 588,573

Global travel agencies' revenue has grown despite core services dramatically changing due to consumers using online channels to research and book travel. Online booking agents now play a much more significant role alongside traditional brick-and-mortar travel agencies. International tourism thrived before COVID-19, but it severely cut into revenue in 2020, followed by a rebound in 2021 as the economy returned to normal. Global travel agencies' revenue has expanded at a CAGR of 2.5% to $474.7 billion through the end of 2023, including a 9.9% increase in 2023 alone.

Brick-and-mortar travel agencies have reinvented themselves to remain relevant and competitive as online... Learn More

10. Global Fast Food Restaurants

Number of Businesses for 2024: 548,062

Over the five years to 2023, the Global Fast Food Restaurants industry has expanded despite changing consumer tastes and a recovering global economy. As disposable income rose, consumers increased spending on luxuries, such as eating out, boosting industry revenue. The industry also experienced steady and growing demand from emerging economies, which boosted the industry's overall performance. During the current period, the industry has also been forced to adapt to increasingly health-conscious consumer preferences. While major fast food retailers have responded by expanding the number of healthy options on their menus, the general trend toward health awareness has hurt overall demand... Learn More