With each passing year, some industries perform better than others, and the revenue generated across the board is often the measure of success. As we enter Q2 of 2023, there are already indicators of which industries will generate the most revenue between now and the end of the year, and the list below reveals several of them.
Life & Health Cover
You’d think following the global events that have occurred since early 2020, the life and health cover industry, in terms of insurance and the like, would have continued to grow. But, believe it or not, there has been a steady decline. However, there hasn’t been a decline in the demand for such cover, which is why on the revenue front, this sector will once again be generating billions in 2023.
Gambling & Gaming
The gambling sector is exceptionally formidable and robust, with all economic experts expecting it to enjoy further growth in years to come. This view is backed up when we see the likes of the Entain group, a global gaming company with Party Casino being one of their flagship brands, continuing an aggressive acquisition strategy for the foreseeable future. The growth in the sector has been on a continuous upward curve, with revenues increasing year on year, and 2023 will be no different.
Pension Funds
In the last five years primarily, there has been significant growth registered where global pension funds are concerned, with one of the standout reasons being that there have been favourable investment returns. But another key reason why the pension fund industry is likely to have a huge 2023 in terms of the revenue generated is that people, especially since the events of 2020 and beyond, are happily contributing more. It’s a combined set of circumstances resulting in financial success for the sector.
Commercial Real Estate
The commercial real estate industry is an interesting one because it’s a sector that has been severely hampered by the global health crisis of 2020 and 2021 primarily, but it’s still more than holding its own, and it will be one of the top revenue-generating industries of 2023, and likely the following years to come. Investor confidence levels fell, especially in 2020 and 2021, which is understandable, and it’s this that’s had a severe knock-on effect. So, you could say that the industry is looking to bounce back, and when it does, it will be in an even stronger position, no doubt.
It’s often the same faces when it comes to lists of the industries that are generating the biggest revenues year on year. But, as we’ve seen in the last several years, and as some of the sectors above have experienced, things can change in the blink of an eye, and situations, usually out of anyone’s control, can influence if an industry is going to thrive or if it’s going to struggle. Those mentioned above seem able to withstand most things and generate billions in the process year after year.