Financial Times-Telefónica Millennials Summit outcomes

As announced in a previous post, the Financial Times-Telefónica Millennials Summit presented last 4 and 6 June – in London and Sao Paulo respectively – the outcomes of the Global Millennium Survey.

The Global Millennium Survey, which is the most comprehensive portrait of 18 to 30 years old ever commissioned (i.e. 12,000 adult Millennials surveyed in 27 countries) aims to know if the members of the Millennial Generation think that they have good opportunities to innovate and become entrepreneurs, what do they think about the role that technology has in their lives and what is their social sensitiveness.

Among the key findings of the Global Millennium Survey, we can highlight the following:

• 76% of Millennials own a smartphone
• 87% of Millennials say “technology has made language barriers easier to overcome”, 69% say “technology creates more opportunities for all” as opposed to “a select few” and 83% agree “technology has made it easier to get a job”
• However, 62% of Millennials say “technology has widened the gap between the rich and the poor”
• 50% of Millennials believe their region’s economy is on the right track and 48% think the global economy is on the right track
• 63% of Millennials say it is difficult for their generation to progress from school to the workplace environment and 39% say they expect to have to continue working indefinitely and will not have enough money to retire
• 51% of Millennials say they are less devout than their parents, 76% say they are open toward other religions and beliefs outside their own and 80% say they would consider marrying someone with different religious beliefs
• 52% of Millennials believe that their countries’ current political systems do not represent their values and beliefs
• 42% of Millennials believe improving the access to / quality of education is the most important way to make a difference in the world, 41% say protecting our environment, 39% say eliminating poverty, 24% say providing basic food / shelter to people and another 24% say promoting sustainable energy
• 36% of Millennials believe an education in technology is most important to ensuring future success, 20% say economics, 13% say foreign languages, 12% say science, 4% say mathematics and 3% say literature
• 68% of Millennials think they have opportunities to become an entrepreneur in their country. In Saudi Arabia, India and South Africa this percentage increases to 91%, 87% and 81% respectively
• Although 62% of Millennials believe they can make a local difference, 60% think they cannot make a global difference
• 58% of Millennials believe that China will be the biggest driver of growth for the global economy in the next 10 years, whereas 31% think it will be the USA, 22% Japan and another 22% India

The Survey has also found that 11% of Millennials will drive change through technology, becoming Millennial Leaders. In Colombia, Peru and Saudi Arabia this percentage increases to 27%, 26% and another 26% respectively. On the other hand, Japan, Korea and Italy are the countries with the lowest percentage of Millennial leaders with 1%, 2% and 4% respectively. Overall, Millennial Leaders are more optimistic, civically engaged and career-oriented than Global Millennials.

All these findings will allow us to offer the Millennial Generation the products they value the most and the tools they need to take the best possible benefit of technology. In addition, these outcomes will allow us to boost innovation and entrepreneurship.

For further information on the Survey findings click here.