In an era where financial stability is increasingly valued, the allure of passive income has never been greater. It’s the dream — earning money without the daily grind. As Bangladesh strides confidently towards a digital and diversified economy, the concept of passive income has become increasingly appealing for many Bangladeshis. As we navigate through 2023, new and evolving opportunities for passive income have emerged, allowing many to diversify their income streams. Here’s a comprehensive look at some of the most promising avenues this year.
1. Art and alternative investments: Investing in art isn’t just for the elite anymore. With platforms allowing fractional ownership of artwork, individuals can now gain passive income by owning a piece of a masterpiece. Additionally, alternative investments like rare coins or memorabilia can also provide steady returns. For all latest news, follow The Daily Star’s Google News channel.
2. Online courses: The digital age has democratised education. Anyone with expertise in a subject can create and sell courses online. Platforms like Udemy and Coursera have made this easier than ever.
3. E-books: Self-publishing has opened doors for writers worldwide. With platforms like Amazon Kindle Direct Publishing, one can earn royalties for years after an initial effort.
4. Rental income: While property prices can be prohibitive, those who can invest in real estate can earn a tidy sum through rentals. Moreover, platforms like Airbnb have revolutionised the short-term rental market.
5. Affiliate marketing: By promoting products or services online, individuals can earn a commission for every sale made through their referral. Websites, blogs, or even social media can be utilised for this.
6. Selling photography: Shutterstock and Adobe Stock are among the platforms where photographers can sell their work, earning each time someone purchases their images.
7. Real estate: With urbanisation on the rise, there’s significant potential in renting out properties in cities like Dhaka and Chittagong. Whether it’s residential or commercial properties, the returns are promising.
8. Print-on-demand: Sites like Teespring allow users to design custom products, from t-shirts to mugs. Only when a customer orders does the product get produced and shipped, minimising risk.
9. Agribusiness: Bangladesh’s agrarian economy offers a unique opportunity for passive income through agribusiness ventures. Investing in farmlands, aquaculture, or even contract farming can yield substantial returns. As the demand for organic and locally produced foods rises, this avenue is poised to grow.
10. Peer-to-peer lending: Platforms like Funding Circle allow individuals to lend money to businesses in return for interest, making it a modern take on traditional bank loans.
Passive income opportunities in 2023 are vast and varied. While each comes with its own set of risks, the potential for supplementary income is undeniable. With diligence and research, one can find the right avenue to bolster their financial future. As the landscape of work and finance evolves, so too do the opportunities for innovative earning.