I have lived my whole life in Australia, apart from some travel and work overseas, but overall I would have lived here for 99% of my life. While I may be bias in saying that it is one of the best countries in the world, there is still so much improvement to be made. Today I will dive into a few topics of why I see Australia as being a fantastic place to grow your wealth and to invest.
While Australia is still a small and young nation (became a nation on January 1st 1901) it has developed quickly to become a first world Country, like it’s peers, Canada, Britain and the USA.
According to the Australian Bureau of Statistics (ABS) Australia has an estimated population of 25,252,511 people living in this country. If you think of this in the grand scheme of world population Australia is quite small. According to the site World-o-meters, Australia sits in the 55th position of country population. We are still a small Country.
The USA has almost 330 million people living there while Australia has 25 million, a large contrast! In fact, the states California, Texas and (almost) Florida are bigger than our whole country with 39.5 million, 28.7 million and 12.3 million population respectively. Put that into perspective. Cali and Texas have a larger population than the WHOLE of Australia.
Does Australia Have Money?
Long story short, yes.
According to World Bank Australia’s Gross Domestic Product (GDP) is 1.323 trillion USD. Not that far behind Canada’s GDP and about half of the whole United Kingdom. Canada and the UK have a population of 36.7 million and 66.0 million respectively.
In 2018, Australia overtook Switzerland and became the country with the largest median wealth per adult. In 2016 it was the 14th largest national economy by nominal GDP, slowly starting to become a wealth powerhouse. To top this off, in March 2017, Australia claimed the record of the longest run of uninterrupted GDP growth in the developed world. This was a run of 26 years of continual growth.
Australia’s Stock Exchange
Australia’s main stock exchange is named the Australian Securities Exchange (ASX). The exchange runs as a business which is also listed on the ASX and has an average DAILY turnover of $4.685 billion and is considered as one of the worlds top 15 exchanges.
The CEO of Credit Suisse Australia, John Knox, said the report showed Australia’s economic fundamentals were strong. “We are fortunate to live in a country where … we are not just very wealthy, but also that our wealth inequality is much lower than other developed countries,” Mr Knox said.
Why should you invest in Australia? Well, I will invest in Australia, I cannot give you investment advice but I believe Australia has a long way to go. We have a growing population of new births and migrants both beating deaths. We have a wealthy country of people with extra money. We have a large housing issue in Australia (prices are insane – take a look at this) but still places outside of Sydney and Melbourne are affordable to people with moderate wages.
To put it simply, Australia is growing, it has money and provides services and materials (gold, silver, copper, coal and uranium to name a few) to overseas countries and make a lot of money doing so. There is plenty of potential to be had.
As always, take what I say with a grain of salt. I am not a financial advisor. In saying so, take a look at my portfolio here to see what you think of it.