boomen
to boom
To experience a strong economic upswing; to develop very quickly and successfully.
Seit der Einführung des neuen Produkts boomt das Geschäft.
Since the launch of the new product, business has been booming.

to boom
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to boom
To experience a strong economic upswing; to develop very quickly and successfully.
Seit der Einführung des neuen Produkts boomt das Geschäft.
Since the launch of the new product, business has been booming.

The verb 'boomen' (to boom) is a loanword from English ('to boom'). In German, it has become a common expression for rapid economic growth.
Die Baubranche boomt dank der niedrigen Zinsen.
The construction industry is booming thanks to low interest rates.
'Boomen' (to boom) is used intransitively. This means it stands without an accusative object. The subject of the sentence is always the thing experiencing the upswing.
Der Online-Handel boomt seit Jahren.
Online retail has been booming for years.
Typically, it is economic sectors that 'boomen' (boom). Common subjects are 'die Wirtschaft' (the economy), 'der Markt' (the market), 'eine Branche' (an industry/sector), 'der Tourismus' (tourism), or 'das Geschäft' (business).
In dieser Region boomt der Tourismus im Sommer.
Tourism booms in this region in the summer.
to grow / to wax
'wachsen' and 'boomen' can both express that something is becoming more or larger. 'wachsen' is the general word and works for numbers, quantities, importance, or even living things. 'boomen' is used mainly when a sector develops very quickly and very successfully, especially in business, trade, or trends. Learners may confuse the words because both describe an increase. But 'boomen' is stronger and more positive: not every case of growth is automatically a boom.

Wegen der vielen neuen Kunden boomt der Online-Handel in dieser Stadt.
Because of all the new customers, online retail is booming in this city.
Die Zahl der Mitglieder im Sportverein wächst seit dem Sommer.
The number of members in the sports club has been growing since the summer.