Passive income is one of the reasons many investors turn to the ASX.
But rather than simply chasing the highest dividend yields available today, I would recommend investors own businesses that can grow over time.
With that in mind, these four ASX passive income shares would be on my long-term shortlist.
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Flight Centre Travel Group Ltd (ASX: FLT)
Flight Centre may not be the first company that comes to mind for passive income, but I think it has an interesting long-term case.
The travel company has rebuilt strongly since the pandemic and once again has the capacity to return cash to shareholders.
I especially like its exposure to both leisure and corporate travel. Those businesses give Flight Centre several ways to benefit as travel spending grows over time.
The dividend will probably be more cyclical than those of some defensive companies, particularly if economic conditions weaken.
But I think there is room for earnings and dividends to grow as the business becomes larger and more profitable. For investors willing to accept some volatility, I would be happy to own Flight Centre for income and growth.
Coles Group Ltd (ASX: COL)
Coles is a much more defensive option. Australians need groceries regardless of what is happening in the economy, giving the supermarket giant a relatively dependable source of sales.
That stability is one reason I think Coles can work well in an income portfolio.
The company also has opportunities to grow through population increases, online shopping, and continued investment in its supply chain and automated distribution network.
I am not expecting spectacular growth from Coles. But a business capable of steadily increasing earnings and returning part of those profits to shareholders can be a valuable long-term holding, particularly when passive income is the priority.
Lottery Corporation Ltd (ASX: TLC)
Lottery Corporation is another business I think suits an ASX buy-and-hold passive income strategy.
It operates many of Australia's major lottery brands, giving it a strong position in a market with high barriers to entry.
I like the relatively simple nature of the business. Lottery tickets require little physical infrastructure compared with many other consumer businesses, and the company can generate substantial cash from its established brands.
There is still some variability depending on jackpot activity, but I think the underlying business is well-placed to keep generating cash over the long term.
That should give management the capacity to continue paying dividends while investing enough to maintain the strength of its brands and digital offering.
Amcor plc (ASX: AMC)
Amcor provides a different source of passive income.
The packaging company supplies products used across food, beverages, healthcare, personal care, and many other everyday categories.
That gives the business exposure to demand that can remain relatively resilient through different economic environments.
I also like Amcor's global scale. Packaging is not a particularly exciting industry, but that is not necessarily a problem for an income investment.
What I want is a business capable of generating cash consistently and returning some of it to shareholders.
Amcor's large international operations and exposure to everyday consumer products make it the type of company I would be comfortable holding through a range of market conditions.
Foolish takeaway
I would happily own these four ASX passive income shares for the long term rather than focusing only on the ASX stocks offering the highest yields today.
They give investors exposure to travel, supermarkets, lotteries, and packaging, with each business generating cash in a different way.
For me, that mix of income and the potential for earnings to grow over time is much more interesting than simply chasing yield.
