Investing in lucrative industries can be challenging. One must consider a lot of factors before entering into something complicated like putting up a business. It is important to know which industry gets the highest demand and what type of industry is the most profitable nowadays.
International businessmen are always on a look out on another business venture that they can invest on. But before investing, there are of course a lot of factors to consider. Most investors do a lot of feasibility studies for years before coming up with the best decision.
If you are an Investor or an Entrepreneur, you may want to consider these 5 fastest growing industries when you are planning on a new business venture. 1. Mining/ Oil/ Gas Currently the fastest growing industry in the United States, services with mining, oil or gas is now becoming more profitable worldwide. Mining and petroleum products’ economic growth continues to rise every year. Plus, mining is known to have an economic multiplier effect, which means, it will always gain more profit in the coming years and will always boost the economy.
2. Computer System Design/ Information Technology
The computer-based industry has been on top of the fastest growing industries for the past 2 decades. This is understandable because everything that we do now is always based on computers.
We are now living in a digital era where almost everything is controlled by computers. Information Technology (IT) is on top of all the other fastest growing industries, and IT will still remain on top for the years to come.
In the list of the top 10 industries having the highest sales growth, 7 companies are from the Construction industry. It is widely known that construction is a multi-million dollar industry, and it has the fastest sales growth around the world. It comprises residential/ non-residential builders, building finishing contractors, and contractors for mechanical utilities. It was reported that this industry was able to reach the sales growth of 13% in the past year.
4. Beverage Manufacturing
There is no doubt that beverage manufacturing companies rank high in the fastest growing industries around the world. The percentage of daily beverage consumption is always high in different countries, that is why soda, beer, water, and juices make big contributions to the economy.
5. Cryptocurrencies Last on the list is Cryptocurrencies. The “new money” or “digital money” is paving waves in the online community, and making a difference in the economy for the past years. Investing in a cryptocurrency is likely the best option nowadays, as it promises a good pricing in the future. Examples of top cryptocurrencies are Bitcoin, Yumerium, Litecoin, Monero, Neo, and a lot more. Economists believe that cryptocurrencies will be a stable multi-billion dollar industry in the future.
So there goes the fastest growing industries that we have all over the world. If you are an Investor, an Entrepreneur, or a simple Businessman, we hope that this article has helped you somehow and that you are able to get an idea on where to invest your money.