2 of the Hottest Industries to Invest in Right Now
If you're investing for the long term, you don't need to worry about what's happening in the markets right now. While there will be downturns over a long investing period, in the long haul, you can come out far ahead by targeting high-growth areas. A couple of the most promising industries to invest in right now are cannabis and 5G technology. Here's why you should consider these emerging opportunities and how to gain exposure to them.
The cannabis industry is a challenging one to forecast because of the uncertainty surrounding legalization. Although dozens of states permit medical use and big names like New York and New Jersey have recently passed legislation for recreational use, marijuana remains banned at the federal level. However, globally, more countries are permitting use as well. Germany, for instance, is a country to watch as it may legalize recreational use within the next year.
Earlier this year, Fortune Business Insights released its projections for the global cannabis market. It expects the industry will jump from $28.3 billion in 2021 to nearly $198 billion by 2028. That averages out to a compound annual growth rate (CAGR) of 32%. There are certain subsectors that are growing at even higher rates; Grand View Researchers project a CAGR of more than 104% for the global cannabis pharmaceuticals market.
Source Fool.com
