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Wealth of experience
How are attitudes to wealth changing in an increasingly globalised and digitally democratic world? Do attitudes to wealth differ across cultures and generations?

https://www.unlimited.world/ubs/wealth-of-experience

This is an interesting article about the attitudes of millennials in various countries (not including Canada).  For those of us interested in promoting entrepreneurism, this conclusion is especially interesting:

“Most remarkable, however, is the extent to which young people today aspire to take control of their working lives by running their own businesses. Almost three quarters (71%) consider themselves ‘likely’ to start their own company and a further 9% have already done so. Brought up in the information age, these 18-34 year old are confident in their abilities to move beyond the confines of a safe office job and into an entrepreneurial future which is less certain but charged with greater potential.”

“As part of UBS ongoing exploration of the changing attitudes to wealth, we investigated the views of more than 2,000 top-earning millennials across the world. We asked them about their aspirations and attitudes to working and how they view wealth, including:

  • What does it mean to be ‘wealthy’ today?
  • What aspects of wealth do different cultures prioritise?
  • Millennials from which countries are most and least confident about being wealthy?
  • What do changing aspirations and attitudes to wealth mean for the future of the working world and the businesses of tomorrow?

This research uncovers a new type of global citizen. Their place as part of an emerging millennial generation defines their worldview and aspirations. But not all economies are poised to deliver the conditions they need to succeed. Ultimately, the desire of the workforce is evolving fast and businesses must reshape their offering to stay in the game and satisfy the ambitions of this new generation.

KEY FINDINGS

  1. Wealth aspirations are changing globally: regardless of where they are from in the world, top-earning millennials now have very similar aspirations. Experiences, not possessions, are the new focus.
  2. The highest levels of confidence are seen amongst millennials in the emerging markets, contrasting with apprehension in the more established markets: new economies emerge as better equipped to deliver in a new, more flexible future whilst established economies seem to be losing momentum.
  3. The millennial work consensus – predictable paths give way to uncharted territories: young people across the world have an appetite for a new and different way of working, rejecting permanent contracts with employers in favour of starting their own businesses.”

Stephen

Posted on: December 19, 2016, 10:58 am Category: Uncategorized

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