Investing is a big business in Australia and we’re seeing it thrive as more and more companies look for new opportunities to expand their business.
Key points:The latest figures from the Australian Bureau of Statistics show the number of people investing in stocks has more than doubled over the last 10 yearsThe number of Australian households investing in the mining sector has more hit its highest level in 10 yearsSource: ABS (ABS)Year-end stock market numbers are up almost 20 per cent since last year, with the median household now spending $1,000 on a stock, compared to $800 in 2009.
The latest numbers also show that the share of Australian adults investing in their retirement accounts has increased from 25 per cent to 29 per cent.
The ABS also released a new report that found a third of Australians have invested more than $5,000 in a single stock, with a further 25 per 10,000 households investing more than that.
This year, the number investing in mining stocks surpassed the $5.6 trillion mark.
“This growth in stock ownership is partly driven by the continued increase in the stock market and partly driven due to the fact that more Australians are taking their retirement money into the market,” the ABS report said.
“The growth in share ownership reflects that more people are starting to understand that a long-term investment in stocks is a sound investment.”
The ABS figures are from last year’s annual report on mining stocks.
It’s one of the largest surveys of the mining industry in history, and shows that more than a quarter of Australians now own stocks.
“In 2014, we started to see a shift towards more people investing for retirement and more Australians now invest for their own retirement, which is a really big change in our industry,” Mr Walshe said.
The survey also found that Australians were less likely to be worried about the mining boom than they were a decade ago, with just one in five people saying they were worried about a downturn in the industry.
The mining boom has been the main driver of the stockmarket growth over the past decade, with most analysts forecasting it will continue for the next few years.
But the mining downturn is not necessarily the only reason for the surge in interest in stocks.
In Australia, there are also more than 2,000 businesses that are looking to expand, with many of these looking to create jobs in the energy, mining and agricultural industries.
“I’m not sure that’s the most accurate term to use in the sense that there are many people who are looking at it and investing,” Mr Walsh said.
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