Nearly half (47%) of Generation Z is willing to accept short-term economic restrictions, such as a decrease in GDP growth, in order to support long-term investment strategies to promote sustainable growth, according to a study by Deloitte Technology. The study, which surveyed 15 regions abroad, sought to gauge the opinions of Gen Z, aged 18-26, on strategies to revive the economy and society. Nearly two out of three (64%) respondents believe that technology will play a critical role in overcoming the challenges posed by the climate.
Many members of Gen Z are fully committed to accepting short-term economic limitations, ranking sustainable energy (42%), economic resilience (39%), and transportation (37%) as the top three priorities for future economic growth. The study also revealed that social responsibility (43%) and job stability (42%) were highly valued by this generation.
Onngas Haeckati, the international marketing head of Dell Technologies, stated that Gen Z will greatly impact decision-making in both public and private sectors regarding investments. They will also facilitate recovery and contribute to long-term stability. This presents an opportunity for Gen Z to receive support for their long-term strategies that prioritize economic stability.
The confidence of Gen Z in investing to revive the economy will lead to an economic recovery within 10 years, with one in three people (32%) worldwide being either not confident or not confident at all. Meanwhile, 38% are unsure, and 29% are highly confident or fully confident. However, opinions vary by region, with Singapore (56%) and Korea (41%) having the highest percentage of respondents who are highly confident or fully confident. On the other hand, Japan (47%) and Brazil (49%) have the highest percentage of respondents who are not confident or not confident at all.
Respondents to the survey stated that the digital future must have a robust cybersecurity framework, with 56% feeling that there must be stringent laws and increased investment in cybersecurity to protect the country’s infrastructure and ensure that businesses adhere to high standards. 38% of respondents would like both the government and private sector to collaborate and take responsibility for this issue.
The study found the following issues:
• In supporting economic growth, improving health services (21%) and investing in knowledge to fill skills gaps (11%) and sustainable infrastructure investment (11%) are crucial worldwide from the perspective of Gen Z.
• More than half (57%) of Gen Z have little to moderate confidence that health service providers will securely keep their personal information according to regulations.
• Over half (55%) of Gen Z believe that flexible and remote work is an important factor in considering employment.