Rosalind Evans
In the face of economic uncertainty, some industries continue to flourish and innovate, undeterred by obstacles. These 10 finance professionals share their insights into the promising sectors with significant growth and investment potential.
Specific industries exhibit resilience and adaptability despite concerns about a recession, job layoffs, and housing market instability. Driven by cultural shifts and consumer demands, these sectors present excellent opportunities for growth and investment.
The experts from Kiplinger Advisor Collective, renowned figures in finance and investment, have identified the sectors that show promise in today’s economy. They highlight diverse areas, ranging from cybersecurity and energy transition to fintech and beyond, explaining why these sectors offer significant potential.
- Creators and Digital Content:
Creators represent a new generation of entrepreneurs whose skills are in high demand. With avenues like book deals, TV shows, and consulting opportunities, this sector is evolving beyond a cash-generating industry into one that builds equity in a digital future. – Kiersten Saunders, rich & REGULAR
- Cybersecurity:
The demand for cybersecurity grows as digital technology becomes increasingly integrated into our lives and online activities. With hackers and malicious actors seeking to exploit vulnerabilities, the need for advanced security measures will continue to escalate. Cybersecurity is expected to be one of the fastest-growing industries in the next decade. – Chad Rixse, Forefront
- Global Stock Market:
Successful long-term investing relies on having faith in human progress and the global economy. With this faith, investors can anticipate growth in the worldwide stock market over time, aligning their investments with the belief that the future holds growth opportunities. – Taylor Schulte, Define Financial
- Fintech:
Fintech creators are revolutionizing money management, empowering individuals to make better financial decisions. Gamification and innovative tools make handling money more accessible and educational, levelling the playing field for those new to finance. – Joe Saul-Sehy, Stacking Benjamins
- Local Skilled Labor:
The demand for local services remains strong, as artificial intelligence cannot replace specific tasks like landscaping, cleaning, and remodelling. The combination of a shortage of skilled labour and the slow adoption of digital marketing in this sector presents significant growth opportunities and room for disruption. – Nick Loper, Side Hustle Nation
- Advice Engagement:
The consumer increasingly seeks personalized, technology-enhanced human advice. From finding financial advisers to implementing digital-first solutions, there is a growing demand for a better advice experience. The advice engagement sector is poised for substantial growth. – Derek Notman, Couplr
- Energy Transition:
In the current economic climate, investing in energy transition shows promise. As the world aims for net-zero targets, companies and governments will prioritize spending on climate change mitigation. The energy transition will span decades, involve substantial capital expenditure worldwide, and impact various industries. – Biju Kulathakal, Halo Investing
- Multifamily and Industrial Real Estate:
Opportunities abound in the heavily discounted acquisition of multifamily and industrial real estate and recapitalization prospects. Special situations and investment options that were once inaccessible to individual investors after the global financial crisis present promising investment avenues. – Tore Steen, CrowdStreet, Inc.
- Wellness Industry:
The wellness industry is expected to experience growth driven by a shift in perspective due to the pandemic. There is a heightened awareness of the need for comprehensive wellness support and solutions that cater to diverse populations’ unique needs, emphasizing holistic health and well-being. – Chianté Jones, Dollars and Change
- Artificial Intelligence:
Implementing artificial intelligence, particularly machine learning and generative AI holds tremendous promise in today’s economy. Embracing AI technology
Despite the challenges and uncertainties in the current economic climate, these ten sectors stand out as areas of opportunity for growth and investment. From the rise of creators and the demand for cybersecurity to the transformative power of fintech and the ever-expanding realm of artificial intelligence, these sectors demonstrate resilience and promise. By staying informed about these emerging trends and understanding their potential, investors can position themselves to capitalize on the exciting possibilities.
