Each year is different and there is always going to be something new and exciting to invest your money in. However as 2020 has been such a strange year for everyone, 2021 will be dealing with the aftermath and adapting to the new normal. With this, there could be some unexpected places that not only need investment but will be very good places to invest.
The travel industry has been hugely affected by the COVID-19 pandemic and while nothing is certain yet, with the talk of vaccines there is hope that the travel industry will be back to its best at some point soon. While investing in vacation rentals might seem like a risky investment as the industry has lost a lot of money, one thing is for sure, people are desperate to get away, to go on holiday, to have some fun, and to visit family and friends they haven’t seen for so long. While many people might still be nervous about the virus, there are plenty of others who are not and are keen to get back to living their lives. There will be a huge demand in the travel industry as soon as it is safe and there are companies who may need investment to get back up and running again or to start-up in the first place.
Don’t forget that savings accounts are an investment too, they are an investment in yourself and your future. So many people regretted not having a savings account this year as they found themselves without a job and having some money put away would have been a real help to get them through this difficult time. There are many types of savings accounts out there, some of which are actually geared towards being investments. You’ve got options like credit union investment accounts that let you save a lot of money and see some sizeable returns. Whenever you save money, make sure you are getting something out of it. Stashing your cash under your bed may seem like a clever idea to keep it safe, but the reality is you need to find savings accounts with good interest rates to increase the amount of money you save over time.
Advancements in technology have been the norm for the last few years now, however, the Coronavirus pandemic has accelerated this even more. While remote working looked likely for the future, it has now become the norm as the virus has forced people to stay at home. Working from home looks like something that people will continue to demand or expect in the future so therefore investments in technology will need to be made. Technology is a pretty safe bet but it’s a good idea to make sure you know what you’re investing in and to believe in the product or company.
Another industry that has had no choice but to advance and to go beyond what it was perhaps ready for is the healthcare industry. Now that it has dealt with the pandemic in this way, the industry has certainly learned from it and will be prepared for another one if it should happen. The healthcare industry is always working on developing and improving and since the pandemic, it is one of the best places you can invest your money.
Just like the travel industry, the hospitality industry is also in need of help at the moment but at the same time, it is something that the public is eager to get back to and support. People want to get back to eating in restaurants and going out for drinks so the demand will be there as soon as it is safe to do so.
Wherever you invest your money next year, just make sure that you are prepared for the unexpected.