Published on 30 Mar 2024 on Insider Monkey via Yahoo Finance

10 Best Long Term ASX Stocks To Invest In

In this piece, we will take a look at the ten best long term ASX stocks to invest in. If you want to skip our overview of the Australian stock market, then you can take a look at the 5 Best Long Term ASX Stocks To Invest In.

Australia is one of the most prosperous nations in the world and stands shoulder to shoulder with the developed countries of Europe and North America when it comes to progress and quality of life. However, since most of the world's business flows through America, the U.S. stock market is considerably bigger. These facts also hold true for the European Euronext stock exchanges and the London Stock Exchange, especially since the latter is another hub for global finance.

The Australian economy is quite advanced but also relies on traditional sectors such as mining. When it comes to analyzing the best ASX stocks, and particularly those that might be suitable for the long term, it is important to see which industries dominate Australia, what companies are operating in them, and what the future outlook for these sectors might be. On this front, data from the Reserve Bank of Australia can be of some help. Its data shows that the five biggest industries in Australia are mining, health and education, finance, construction, and manufacturing. Percentage wise, they account for 14.3%, 12.8%, 7.4%, 7.1%, and 5.7% of the Australian economy, respectively.