Although now many young people are fighting an uncertain labor market, a unsustainable real estate situation And basic expenses that do not stop growing, in just a decade they could be in charge of the world economy thanks to a phenomenon known as the “Great wealth transfer“. His way of seeing life Everything will change.
A meteoric rise in ten years is expected. A recent report Bank of America analyzes what holds a Z generation that currently appears with its negative financial balance with a growing Housing Resource Expenditure either educationin contrast to Low wages common at the beginning of professional careers.
According to the report data, the global set of this generation already control about 9 billion dollars In income in just two years, coinciding with the arrival at the labor market of this generation. However, the bank expects this figure to shoot up to 36 billion dollars by 2030 and reach 74 billion dollars in 2040 in what is already known as the “great transfer of wealth.”
A few complicated first years. The report indicates that the generation will experience first years in the very complicated labor market. Many young people, just out of college, meet a labor market and dynamics that do not understanddespite be overcowed For available jobs.
The INCAUDS OF THE IA In the workplace he will not pave on his way during the first years. The Bank of America report highlights that this generation must face a cooling scenario in job offers. However, according to The published by 3DJUGOSgene generation already needs 146% of SMI to survivetripling what Baby Boomers needed to meet their basic needs, and double the expenditure of generation X and Millennials.
The generational relay of money. Despite these aciagos beginnings, the data of one of the world’s largest banking entities suggest that generation Z will experience exponential growth that will make them The richest generation and numerous world in 2035. For that year, the GenzersThey will represent 30% of the world population.
This “great transfer of wealth” is a massive capital change from major generations to the gene z, marking a before and after in the global economic distribution. Bank of America estimates coincide with those that already made in your report The consultant Cerulli Associates.
This 2022 report already estimated a transfer of assets of the Boomers to Millennials and Z generation of about 84 billion dollars by 2045. It is estimated that around 38% of generation Z in the United States hopes to receive an inheritance, which will further drive their economic power, according to reveals A study of the insurer Northwestern Mutual.
They are not accustomed to savings. In the same way that generation Z has marked important changes in Its incorporation into the labor marketthey will also impose their criteria in the way in which the heritage that will be transferred are spent and invest.
In a scenario such as the one that is currently living in today, savings do not even consider as an option, so it is expected that the expense trend will increase with respect to other demographic groups such as that of Boomersmarked by His tendency to savings.
Brands rub their hands. The US banking entity expects the global spending of generation Z to reach 12.6 billion dollars in 2030, compared to the 2.7 billion dollars that spent in 2024.
“It is likely that they are among the most disruptive generations for economies, markets and social systems. Either due to changes in diet, Reduction of alcohol consumption, Savings and housing, generation Z will redefine what it means to be a consumer, “says the authors of the Bank of America report.
In Xataka | 26% of the Z genes with their parents to work interviews. 8% of those parents intervene in them
Image | Unspash (Alexander Gray)
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