How Millennials and Gen Z across Southeast Asia differ in their ambitions and concerns

Millennials (also known as Generation Y) and Generation Z are expressing uneasiness and pessimism about their careers, their lives in general, and the world around them.

A new report titled The Deloitte Global Millennial Survey 2019 assessed the mood of respondents of both generations across five parameters (relating to the next 12 months): economy, social/political, personal, environment, and business.

Composite scores were calculated on a scale ranging from zero (absolute pessimism) to 100 (complete optimism) - where Millennials posted a score of 39; Gen Zs scored 40. Doubts about economic and social/political situations proved to hamper the index scores the most.

Meanwhile, just over half (55%) of both groups believe business is having a positive impact on society, while fewer than 30% believe efforts to protect the planet’s health will not be effective. In both groups, men were more optimistic than women overall.

Among the country breakdown, Gen Z was the most optimistic in the Asian giants of China (66) and India (61), while European markets Italy (32), Germany (31), and France (27) has the least optimistic respondents.

The report is based on the views of 13,416 Millennials (born between January 1983 and December 1994) across 42 countries and territories, and 3,009 Gen Zs (born between January 1995 and December 2002) from 10 countries.

Incidentally, the answers provided by Millennials and Gen Z respondents often were remarkably similar. Thus, the report focuses on the Millennial response and notes Gen Z responses only when they’re distinctly different.

Human Resources also had access to a country breakdown of the data - Malaysia, Indonesia, Thailand, and Singapore - of which a summary is shared below.

Country breakdown: Malaysia

• While 23% claim they are 'satisfied' with their life, Millennials' top three ambitions are - buy a home of their own (75%), earn a high salary (64%), and start their own business (59%).
• What are Malaysian Millennials most concerned about? Political instability (40%), corruption in business and politics (31%), and crime/personal safety (29%).
• 86% of Generation Y in Malaysia agreed that they would be physically healthier if they reduced the time they spend on social media.

Country breakdown: Indonesia

• While 42% claim they are 'satisfied' with their life (the highest among the four countries we summed up), Millennials' top three ambitions are - start their own business (79%), make a positive impact on their community (77%), and earn a high salary (59%).
• What are Indonesian Millennials most concerned about? Corruption in business and politics (31%), climate change and environmental protection (28%), and unemployment (26%).
• 71% of Generation Y in Indonesia agreed that they would be a happier person if they reduced the time they spend on social media.

Country breakdown: Thailand

• While 24% claim they are 'satisfied' with their life, Millennials' top three ambitions are - earn a high salary (74%), start their own business (54%), and travel the world (54%).
• What are Thai Millennials most concerned about? Crime/personal safety (26), economic growth (26%), and unemployment (26%).
• 61% of Generation Y in Thailand admitted they would be anxious if they couldn't check social media or had to do without it for a day or two.

Country breakdown: Singapore

• While 20% claim they are 'satisfied' with their life (the lowest among the four countries we summed up), Millennials' top three ambitions are - earn a high salary (59%), travel the world (58%), and buy a home of their own (48%).
• What are Singaporean Millennials most concerned about? Income inequality (28%), unemployment (27%), and climate change and environmental protection (22%).
• 55% of Generation Y in Singapore agreed that on balance social media does more harm than good.

All images / Deloitte