The future of Gen Z's virtual world
ARTICLES | Jan 31, 2022
- Gen Z people born into the digital world are entering working age and are the "main workforce" of society, although Gen Z are adapting so fast to innovations like Blockchain or NFTs that they can be a source of income. But the Global Financial Crisis (GFC) and COVID-19 pandemic hit their opportunities harder than you might think.
Joining the workforce amid world recession
- The oldest Gen Z (around 24) are entering working age during a global slowdown. They may struggle to find job opportunities amid high unemployment. Their future income could be reduced.
- Gen Z might need 1-2 years for income to return to normal rates, according to Allianz Economic Research [1]
Gen Z is adapting to the changing market
- To escape future financial problems, including long-term unemployment, Gen Z must adapt to the changing labor market by learning new skills such as trading cryptocurrencies or new specialties that will arise in the future.
- A survey by Capitalize found that 56% [2] of Gen Z people aged 18+ are turning to cryptocurrencies and NFTs for savings without taking into account the risks. They are also learning to use technology to change their lifestyles, work, and financial plans for "survival".
Gen Z and physical and mental healthcare
- Gen Z have grown up with stress, both from themselves and other generations. They are concerned with mental as much as physical healthcare, seeking activities and methods to reduce or treat stress.
- Gen Z spend their free time on social media trends such as IG or TikTok and 42% [3] exercise at home. They do creative activities such as embroidery, painting, or making collages to balance their physical and mental well-being.
Gen Z’s future in harsh environments
- In addition to work and financial problems, Gen Z face environmental problems. They must focus not only on today's world but the challenges of the future.
- Seventy-nine percent [4] of Gen Z abstain from meat 2 or 3 days a week to help reduce environmental degradation from the meat industry. Forty percent [5] have begun to oppose fast fashion and buy second-hand clothes. They see saving the planet as not just about planting trees but also adjusting daily life.
How are your Gen Z friends planning for the future? Let us know under this post.
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