Global Scans · Generation Y (Millennials) · Weekly Summary

WHAT'S NEXT?: Gen Y (also known as Millennials) are formed by the digital revolution that determined their childhood. Gen Y is going to continue finding newer digital avenues to explore. A remarkable 91% of Gen Y workers don't expect to stay in a job for longer than three years.

• A new report says that while fewer young Canadians own a home compared with three years ago, a majority of millennials and Gen Z adults still plan to purchase one in the next five years. Mortgage Rates & Mortgage Broker News in Canada
• Gen X and Millennials in the United States are at greater risk for 17 cancers than were previous generations. Curetoday
• Merriman highlighted that by 2030, millennials, Gen Z, and Generation Alpha will make up 75% of the workforce, driving major shifts in workplace dynamics and expectations. The Bottom Line
• With Gen Z and Millennials expected to make up almost 60% of the global workforce by 2030, organizations need to adopt tools to bridge the generational gap, improve communication and create a more harmonious and productive workplace. theHRDIRECTOR
• In the coming years, the luxury sector will undergo a profound transformation driven by generational change, particularly with Generation Z (born between 1997 and 2012) and Millennials (born between 1981 and 1996), who by 2030 will constitute the majority of global luxury consumers. LUXONOMY
• By 2030, the Roblox generation will be the majority, with over 58% of the workforce made up of Gen Z and millennials. Wired
• By 2029, Millennials and Gen Z will make up 72% of the world's workforce. Biometric Update | Biometrics News, Companies and Expla
• American Gen Zers born in 2004 can expect their total savings to amount to 766% of their disposable income in 2063, surpassing both Gen X and millennials. Yahoo Finance
• By 2026, Gen Z will surpass Millennials as the largest generation, making up over 27% of the workforce. FlexOS
• 40% of Gen Z and 31% of millennial holiday shoppers expect to spend more in 2024, versus 19% of Gen Xers and 15% of baby boomer holiday shoppers. Bankrate.com
• As grandchildren of the Silent Generation and baby boomers, Gen Z will generally see smaller inheritances than Gen X and millennials and will gain $11 trillion. Investopedia
• While all generations are more likely to travel to Western hemisphere locations than more distant ones, millennials are far more likely than all other generations to say they plan on visiting Central America. SnapJolt
• When millennials in particular take a big trip, they venture far from home: 44% said they expect to take an international trip in 2025, compared with 37% of Gen Z adults, 24% of Gen Xers and 17% of baby boomers. SnapJolt
• Between now and 2044 in the US, the Silent Generation and Baby Boomers are expected to hand over the reins of their significant wealth to Millennials. CNN
• In 2025, millennials are expected to spend the most on social e-commerce, followed by gen Z and gen X. Mageplaza
• Around 62% of millennials and 61% of Gen-Zers surveyed by Forbes Advisor said they plan to spend a minimum of $4,000 on travel in 2024. Yahoo News
• Social Media Influence: Millennials are expected to drive one-third of global social media shopping expenditure by 2025, with Gen Z and Gen X following closely. Indian Retailer
• Millennials have begun using BNPL at a higher rate than other generations, with nearly 45 million millennials expected to use proximity mobile payments in 2024, more than any other generation. FinExtra
• High mobile penetration and the increasingly important position of Millennials and Generation Z in the global economy - alongside increased demand for shared assets - have paved the way for new business opportunities and additional revenue streams for individuals and businesses. Research and Markets
• 76% of millennials and Gen Z say they plan to take a solo trip in 2024. PMG - Digital Company
• Deloitte's 2024 Gen Z and Millennial Survey, which surveyed more than 22,800 respondents in 44 countries, shows growing optimism among Gen Zs and millennials, despite their concerns about what their futures might look like. Deloitte Insights

Last updated: 12 January 2025