INTRODUCTION
Key themes for 2024 and beyond
INTRODUCTION
Key themes for 2024 and beyond
INTRODUCTION
Key themes for 2024 and beyond
In this year’s report
We present new survey and secondary data from around the world, with our analysis focusing on four key themes.
First up, we wanted to go beyond the stereotypes and start to build a checklist for how to do a better job when it comes to analysing generations. Along the way we try to challenge our assumptions, think about where we can (and cannot) make certain generalisations and reflect on how we label and describe people from different age groups.
Our tour moves on to explore the different dimensions of Generation Z, currently aged 12-28, as we look at what unites (and divides) them. Just how different are they from the Millennials and Generation Xers who went before? We ask whether they truly are the first 'global' generation.
We also consider the famous 'Baby Boomers' and explore the prevailing attitudes and aspirations of people in their sixties and seventies today. In the United States they represent 27% of the population, but control 70% of the assets. How can brands unlock the spending power of mature adults?
Last, and certainly not least, is the question of demography. What’s clear straight away is that this is no longer a niche topic. Demography is politics. And the population changes now under way present new questions for businesses, large and small.
We are conscious that, in many ways, what we are sharing here reveals more questions than answers. In that spirit, we look forward to your ideas and reactions as we discuss together the dynamics of generational and population change – and explore what it means for societies and businesses around the world.
Generations in numbers
Outside the US, not everyone is familiar with generation terms
% of people across 29 countries 'correctly' identifying which generation they are part of
Gen Z
Millennials
Gen X
Baby Boomers
29-country average
Americans are more comfortable with the terms
% of Americans 'correctly' identifying which generation they are part of
Gen Z
Millennials
Gen X
Baby Boomers
Many outside the US have not even heard of the term 'Generation Z'
% of adults who have heard of Gen Z
US
29-country average
China
India
Falling birth rates are not due to a lack of desire for children
The ideal number of children to have (according to people in our 29-country survey)
The actual fertility rate in the countries surveyed
countries will experience population decline in 2024, including…
Albania, Armenia, Belarus, Bosnia & Herzegovina, Bulgaria, China, Cuba, Czechia, Estonia, Georgia, Greece, Italy, Jamaica, Japan, Latvia, Lebanon, Lithuania, Monaco, Montenegro, North Macedonia, Portugal, Russia, Serbia, South Korea, Ukraine, Uruguay
Across the world, countries are feeling the effects of population decline
% saying the population in their country will fall in 2024
South Korea
China
Japan
Italy
Countries with more Baby Boomers than Gen Z include
UK, France, Canada, Germany, Italy, Spain, Poland, Japan, South Korea, Thailand
Share of US wealth...
Controlled by Baby Boomers (aged 59-79)
Controlled by over 55s
