Except for the mechanical watch industry; which might make a serious comeback? I mean it's still here, but interest has faded. I have weird feeling people will become interested, beyond a steampunk level, in finely machined/designed mechanical watch movements?
The Internet has made watchmaking/repair something a determined person can learn at home. I guarantee once you learn the basics, you will look at that old Seamaster sitting in the drawer in a whole new light. Taking apart an old watch, cleaning it, oiling it, and eventually wearing it on your wrist is a good feeling.
With me it went from an interest in automatic movements, to a hobby. Then it went to an obsession, but I'm weird? (I take things to far.) To maybe a building my own watch one day? I haven't lost money on the pursuit of this hobby though.
If you are young, their are a few watch repair schools still around. Rolex funds many of them because so many watch repairers are retiring, or died years ago. I would definetly go to one of these schools if I was younger, and could just pick up and move. That said, the right use of the Internet, and the right books can get someone pretty proficient in repair, and even design?
Think about all those rich dudes who wear complicated mechanical timepieces? All those watches will eventually need servicing? I've noticed rich poeple like a good deal, and take notice of watch servicing costs(cleaning, oiling, etc.) that are currently outrageous at the factory. I feel if a future watchmaker has the right tools, a portable clean room, and charged under $300 a service, he/she could make a good living?
It does seem like an uphill battle to get people interested in watches? When I was younger, I just liked what the watch looked like. My first watch was a Tag Formula 1 bought across from Macy's in San Francisco in the 90's. I like that Quartz watch. As I got older, I started to appreciate what's under the hood, and I really wanted to learn how to repair these mecanical complications. I can guarantee it's not as hard as some people make it out to be! I hope to have a few free instructional websites up in the future.