Which Canadian markets should you invest in this year?

Any homeowner in Canada knows that keeping on top of property maintenance and ensuring your house always looks its best is important. Doing this will also mean everything works as intended and your home will hold its value should you decide to sell.

If you have some spare money left over from making home improvements, choosing to invest it is something to think about. This could not only help you get a better return than parking it in a traditional bank savings account but may also enable you to build up a nice nest egg for later in life. In addition, sensible investing may also give you more money to make further home updates with.

Once you start looking around Canada at which markets to put your spare cash into, you will soon find there are lots to choose from. But which are some of the best to consider getting involved with in 2023?

Online casinos

When thinking about why investing in this industry is a good idea, it is wise to look at how much the global iGaming sector has grown in recent times. In 2018, for example, the global online gambling market was estimated to be worth around $41bn – this had grown to an estimated $81bn in 2022. With this upward trajectory expected to continue, you can see why this market is worth considering.

It is also key to note the positive feel around the local Canadian online casino market currently – plus the popularity that Jackpot Village and other gaming sites enjoy in the country. This love for playing casino games online in Canada should see it remaining a growth sector to put money into.

Ontario’s decision to launch its own legal iGaming market in April 2022 is also worth bearing in mind. This has not only been a roaring success but has also set a path that other provinces seem likely to follow. You should see the Canadian online casino gaming sector grow significantly in the coming years and potentially generate a good return for investors.

Real estate

A look at the latest business news in Canada shows that this is a country with a thriving corporate world and lots of areas you could invest money into. Real estate is a good example and has long been a popular market for Canadians.

This sector, after all, has stood the test of time and is usually one of the safest markets to get involved with globally. This is easy to see from the popularity of investing in Dubai’s real estate market or the vibrant market for real estate investment in the UK or US.

It is also one of the most robust markets around Canada in economic terms and can deliver decent returns over time. As long as you are careful about what you invest in and are realistic about the returns you expect, then it is a good option.

The appeal of investing in Canadian real estate also grows when you dig deeper into the market. This sees the overall sector projected to grow from being worth just over $59bn in 2023 to around $69bn by 2028. Past performance also makes this an attractive market for investors right now, when you consider the all-time high house prices in Canada hit in early 2022 and the 20% rise in average prices from 2021 that was experienced.

IT

The Canadian IT industry is performing well at the moment and shows no signs of slowing down anytime soon. This makes it a top market to consider putting money into.

The great thing about the IT sector in Canada is that it encompasses a wide range of companies that provide in-demand services in areas such as cybersecurity. These are key areas within IT that will always be needed and will always be called for. By the same token, IT as a sector is crucial to

modern life and how all firms operate. Due to these factors, IT stocks seem a smart move in 2023 for Canadians.

As with any potential market you could invest in right now, looking at how it is performing always makes sense. The Canadian IT sector scores well here and has recorded 28% growth in the last 12 months. There is also a projected 10% increase in earning across this industry over the next few years.

Potential investments to make in Canada for 2023

If you have a little spare money to invest, it is key to take your time and find the best markets to put it into. This can be a little overwhelming, though, when you consider the sheer number of sectors to investigate. Although you should always do your own due diligence before investing money into any markets, those listed here are all worth thinking about more closely.