Looking to grow your fortune in 2023? Making the right investments can feel like a tricky task, particularly given the current economic climate – but the good news is that there are still some great opportunities to make some returns over the year ahead and beyond.
Savvy investors keen to grow their funds know that the wisest way to go about it is to spread investments across a range of industries and sectors so that you don’t have all your eggs in one basket. Known as diversification, it’s a clever strategy that protects your money should one particular sector take a hit, and will ensure that you still have other investments to play with regardless.
Due to the ongoing economic pressures of Brexit, as well as the lasting repercussions of the global pandemic and Russia’s invasion of Ukraine, it’s more important than ever to choose where to put your money wisely over the year ahead – but the good news is that there are still some sectors that look ripe for growth over the next five years.
These are some of the best ones to consider investing in, whether through buying shares in start-ups or established businesses, in 2023.
Gaming
Gaming is an attractive area for investment at present as countless offshoots are continuing to expand exponentially. Mobile gaming, for instance, has seen significant growth in recent years, as more and more people have gained access to smartphones and tablets – and this has led to a surge in the number of mobile gamers, and a massive spike in revenue for the mobile gaming industry.
Indeed, the mobile games market is worth more than $152 billion in 2023 according to bankmycell, with a record number of people seeking entertainment online during the global pandemic and continuing to favour it in the long-term.
Casino gaming has undergone an impressive rise alongside wider mobile gaming, with favourite games such as Blackjack, Roulette and Baccarat lending themselves perfectly to the portable screen and the latest live dealer experiences making online participation all the more engaging.
The industry has always been hugely competitive, but as developers continue to innovate, it’s only becoming more attractive to both prospective and current users. Some of the leading online casino brands now offer games from a plethora of different studios – Doggo Casino, for example, offers a vast range of titles from Microgaming, Pragmatic Play, Red Tiger, and Quickspin, amongst others, which has seen a dramatic spike in users over the past year as a result.
With so many people in search of different gaming experiences online, start-ups can now enter the industry and find success more quickly than ever before – but be sure to choose which company to invest with carefully to ensure that the potential is there.
Artificial Intelligence
Artificial intelligence has the potential to provide a significant return on investment in 2023 and beyond, with the market for AI projected to be worth over $190 billion by 2025.
It’s already beginning to transform a variety of different sectors, and investing early could provide a competitive advantage as it continues to gather momentum and uptake widens.
AI offers a host of benefits to businesses choosing to integrate it into their operations, including improved efficiency and productivity in a variety of different areas – in turn, resulting in increased profits across the board and potentially even leading to new business opportunities and the creation of innovative products and services.
There are numerous AI stocks to choose from, but it’s wise to go for those that are well-established and have a strong track record of performance if you’re looking for the best possible opportunity to grow your capital. NVIDIA Corporation, Amazon, Alphabet, and Microsoft are all great choices if you’re new to the field, and have performed consistently well over time, with potential for rapid growth in the long-term.
Virtual Reality
Virtual reality is another ripe area of investment and there’s no doubt that it’s an emerging technology that could be set to transform the way we live, work and socialise in the near future – and with the ongoing development of the Metaverse underway, it seems inevitable that this will be the case.
As VR enters the mainstream in the next few years, anyone with shares in key businesses could well be set to profit substantially. Considered a sound investment opportunity that is set to enhance a host of industries including gaming, entertainment, healthcare, education and real estate, VR technology has a host of potential applications. As well as being used to create immersive experiences and change the way people interact with films and television, it could also facilitate the provision of remote medical consultations and virtual tours of properties – but the possibilities are truly endless.
If you’re considering making an investment in any of these industries this year then be sure to do some research and due diligence first so that you have the information you need to make an informed decision and know exactly what you’re getting into. All investments come with associated risk, so educate yourself with the facts before you take the plunge and with the right choices, you could be reaping the benefits in years to come.
Disclaimer: Investing money carries risk, do so at your own risk and we advise people to never invest more money than they can afford to lose and to seek professional advice before doing so.
