Emerging sectors are vital for economic growth, say experts

KARACHI: Business and economic activities are evolving from traditional sectors to emerging ones, including beauty, fitness and consumer health. Hence these sectors are creating increasing opportunities for investment and employment at both global and local levels, according to Muhammad Uzair Nizam, executive director of Ecommerce Gateway Pakistan.

Speaking at the inauguration of the 10th edition of Beauty, Fitness, and Consumer Health Asia, alongside foreign delegates from various countries, Nizam said that emerging sectors are no longer niche but are gradually transforming into vital pillars of the global economy.

He added that these sectors are generating millions of jobs across the value chain -- from manufacturing and marketing to research and retail -- significantly boosting employment rates and contributing to GDP.

“By investing in innovation, sustainability and inclusivity, these industries have the power to drive socio-economic development and improve quality of life worldwide,” he said. He further stressed that the beauty, fitness and consumer health sectors generate jobs and business opportunities, particularly for young and women entrepreneurs.

More than 2,000 renowned brands and 350 companies from seven countries, including the US, China, Korea, Iran, Turkey and Indonesia, are participating in the expo. The exhibition is expected to attract 40,000 visitors and generate $20 million in revenue through service exports, B2B deals, sponsorships and tourism-related activities.

The event aims to provide a platform for stakeholders, experts and consumers in Pakistan’s emerging healthcare, fitness and wellness sectors. It aims to introduce various beauty trends and innovations to the Pakistani audience, enhancing the country’s global presence in these industries.