Millennials, by that time, are projected to comprise 36% of India's total population, yet could account for 61% of its Internet users and 78% of its online . A 2014 Pew Research survey found that more than 95 percent of Vietnamese, 80 percent of Bangladeshis, and 73 percent of Filipinos supported free markets, and 94 percent, 71 percent, and 52 percent respectively believed that the next generation will be financially better off than their parents. They are at a point, though, where there is more stability in their usage than in past years. Actionable Marketing Insight: Realize that millennials consider family important. A recent Intergenerational Foundation report warned that youth in countries such as Greece could become a lost generation due to such intergenerational inequalities. Generations, like people, have personality and the Millennial generation is no exception. Out of a population of 1.2Billion in the continent, those aged 19 years and below are at 51%. This map of Australia shows the number of Millennial Australians in each state and territory (x1,000,000). Millennials surpassed Baby Boomers in 2019 as the USs largest living generation with 72.1 million, according to Pew Research. Millennials (18-36) comprise 24% of the US population (77 million individuals), on par with Boomers (1946-1964) and Gen Z (born 1995-present); The median income for younger Millennials is $25k, while it's almost double that ($48k) for older Millennials; Millennials account for 1 in every 5 same-sex couples; Only 21% of Millennials are married . Learn more about how Statista can support your business. Reference period If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for TRY579 per month. Signup for the weekly Actionable Marketing Newsletter and get a roundup of of the weeks posts, plus extra content you wont find on the website, plus a free e-book: What Every Blogger Needs to Know 101 Actionable Blog Tips, Photo Credit:http://www.flickr.com/photos/sterlingcollege/6185395256/, Create Memorable Customer Experiences This Holiday Season, Subscribe to receive the full text of each new actionable marketing post, Social Media Implications for Gen X and Gen Y, Marketers are from Mars and consumers are from Venus, Social Media Fuels SMB Growth (Not for SMBs Only). There is significant business enthusiasm about the potential economic impact of global Millennials, but it is important for businesses to know where the majority of Millennials are located and what their employment and consumption prospects are. 11 Times SquareNew York, NY 100361-800-405-0844, 1-800-405-0844ii-sales@insiderintelligence.com. This provides insights for marketers into millennials perspective. There are 9.1 million households in Australia, and on average 2.6 people live in them. Making the most of their smartphones, millennials have adopted newer devices in lackluster numbers. Office for National Statistics (UK). Together they account for nearly half of the worlds Millennials. You only have access to basic statistics. As of 2017 NSW was the only state with over 2 million Millennials. Name Status Population Census 1990-05-01 Population Census 2000-05-01 Population Census 2010-05-01 Population Census 2015-08-01 Population Census 2020-05-01; Metro Manila (National Capital Region, N.C.R.) This generation, sometimes called Generation Y came after Generation X and. This makes sense since most people are influenced by the music thats popular when theyre in their teens. Note: All data points are for the US except purchasing power. China's millennial population is the largest in the world. Thats reflected in their share of US household wealth. Music matters a LOT to millennials. Published by D. Clark , Feb 4, 2022 There were approximately 14.26 million millennials in the United Kingdom in 2020. The data, which was released by the Census Bureau last month and analyzed by the Brookings Institution, reveals the 166 million Americans under the age of 40 -- millennials, Gen Z and younger. The ideal entry-level account for individual users. In 2019, millennials represented over 1/4 of the US population. Stay informed and spot emerging risks and opportunities with independent global reporting, expert William H. Frey Senior. They will become even more important as previous generations retire and move into a life stage of lower consumption. Older millennials came into the job market just as the recession was pushing unemployment up and pushing wages down. Currently between 19 and 35 years of age, Millennials are in their young adulthood and, as such, are fast becoming the world's most important . 11. There are anecdotal signs that the foundations for this growth are in place. And those effects tend to linger long after a recession has ended. Only 30 percent are engaged while 55 percent are not engaged, and 15 percent are actively disengaged. Millennials have diverse backgrounds and life experiences. Learn how Uber for Business can help your teams share the holiday joy with existing customers and prospects, wherever they are. Age Group. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal, Show sources information BANES has a millenial population of 27.37 percent, up 2.72 percent, despite high house prices of 339,424.46 on average, compared with the national figure of 258,270 outside London. Some millennials try restraining their digital time. Checking millennial data, youll find millennials in the western US. INSEAD recently surveyed 16,000 18-30-year-olds across the world. Millennials form 13.9 percent of the total UK population. Thus, the report . While millennials are on the cusp of outnumbering both boomers and gen X in the US, this is not the case in many other advanced economies. For a full comparison of Standard and Premium Digital, click here. Low unemployment rates in both BANES and Exeter make the areas attractive. university These markets have higher youth unemployment rates and lower medium-term growth outlooks. facts. To reach this key consumer audience,marketers must appreciate their unique attributes to developtruly representativemarketing personas. Directly accessible data for 170 industries from 50 countries Millennials are the least engaged generation in the workforce. As of Q3 2019, Federal Reserve data showed 23-to-38s with 2.9% of the totala barely visible wedge in this pie chart. As a large group of consumers, millennials have become one of the most closely watched and talked about generations in the marketing world. (June 25, 2021). Actionable Marketing Insight: Appreciate that, while they may have limited spending ability early in their careers, millennials have an informed, culturally inclusive worldview. Millennial women between the age of 21-36 are 7% more likely to earn at least a bachelor's degree than men. The report is based on the views of 13,416 Millennials (born between January 1983 and December 1994) across 42 countries and territories, and 3,009 Gen Zs (born between January 1995 and December 2002) from 10 countries. 6 min read . As of 2019, the Pew Research center estimated that Millennials are the largest generational cohort in America with a population of 72.1 million, more than a quarter of the entire population. 1. Gen Z grew up with technology, the internet, and social media, which sometimes causes them to be stereotyped as tech-addicted, anti-social, or social justice warriors.. In part this is a result of labor market regulations that restrict employers ability to hire and fire workers. Refers to households where the household reference person is a Singapore citizen or permanent resident. This statistic classes millennials as those born between mid-1981 and mid-1996, although other definitions differ. But what is more important for country-specific economic outlooks and business opportunity assessments is not the absolute distribution of global Millennials. Total number of Millennials in the world today, Nokias 3310: the greatest phone of all time, Introducing the all new Range Rover Velar, Duke and Duchess of Sussex, Prince Harry and Meghan, Liu Jo was born from the brilliant intuition of two brothers. Whether the global Millennials provide more business opportunities or challenges will depend on their economic prospects. Its chock full of data.). There are roughly 8.82 million millennials in the UK, representing 13.6% of the total population. Forty-two percent said the private sector has the strongest influence, while 27% chose the government. It is notable that the worlds most populous country, China, does not appear on our list of significant Millennial populations. This customer concern with companys social point of view is consistent with other research. In just a few years, their numbers will be the only statistics that matter. If economic growth is inclusive and continues to generate economic opportunities for Millennials, this could translate into long-term sustainable economic growth and stability, as well as increasing opportunities for businesses to sell to these large consumer markets. Here are some other demographic factors that influence how millennials view the world. In contrast, the only region that is noticeably underweight on Millennials is Europe (8 percent of global Millennials vs. 10 percent of total global population). In the more positive camp are Bangladesh, the Philippines, and Vietnam. Millennials accounted for 24% of the adult population in the 28-member European Union in 2013, the last year for which there is comparable, comprehensive EU demographic data. As of July 1, 2019 (the latest date for which population estimates are available), Millennials, whom we define as ages 23 to 38 in 2019, numbered 72.1 million, and Boomers (ages 55 to 73) numbered 71.6 million. Coming of age with smartphones and social media, millennials are heavy users of digital technology. Accounting for roughly 35% of the country's population, Vietnamese millennials - those aged 18 to 38 years - are playing an increasingly more influential role in the economy and Dynam Capital continues to closely monitor their telling consumption trends. Millennials were the first generation to embrace social media use; in 2018, 91 per cent of Canadian millennials had at least one social media account, compared to 81 per cent of all Canadians. Smartphone penetration among millennials is stable partly because there is scant room for growth. Nonetheless, Pakistan is still struggling to attract FDI and boost its long-term economic prospects due to perceptions of insecurity and corruption. Millennials are an ethnically diverse generation. As a result, theyre likely to be involved purchase influencers where important family decisions are concerned. Its economy is growing at the fastest pace in eight years as a result of a number of structural reforms and improved security, and the country recently requalified for the MSCI Emerging Markets Index after it was removed in 2008. Millennials are as big a demographic as their boomer parents, but their life experiences to-date and worldview are very different. Millennials made up more than 40% of buy now, pay later (BNPL) service users in 2021 and will continue to make up the greatest share of the BNPL user base through 2025. While millennials represent 22% of the population in the US, they account for 25% in China. The 2021 American Community Survey estimated the total civilian population age 16+ employed in STEM occupations at 10.8M. In terms of buying behaviors, ecommerce now accounts for much of millennials purchasing. This shifted somewhat in the snap election. US Millennials are saddled with unprecedented student-loan debt and entered adulthood in the tumultuous economic environment surrounding the Great Recession, but unemployment in the United States has trended downward steadily in recent years and the country has a relatively solid economic outlook. This is significantly lower than its rate in 2000, which was 2.51%. Millennials respondents were born between January 1983 and December 1994. By clicking Sign Up, you agree to receive emails from Insider Intelligence (e.g. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Millennials, also known as Generation Y, include anyone born between 1981 and 1996 (ages 26 to 41 in 2022) and represent about a quarter of the US population. This contrasts with many developed markets in Europewhere, despite the relatively low share of Millennials in the total population, many countries have very high youth unemployment rates. We estimate that 94.4% of US millennials will have smartphones this year. So despite their unlucky start in the workforce, American Millennials may yet have sufficient economic opportunitiesand in fact are optimistic about their economic prospects. Millennials, also known as Generation Y, include anyone born between 1981 and 1996 (ages 26 to 41 in 2022) and represent about a quarter of the US population. There are more than 350 million Chinese millennials, making over 25 percent of the entire population. 2021 20 October 2022 Population: Census The 2021 Census counted 25,422,788 people in Australia (excludes overseas visitors), an increase of 8.6 per cent since the 2016 Census. Sign up for the eMarketer Daily Newsletter. Overall, millennials are more diverse than the generations that preceded them, with 44.2 percent being part . Inclusion on this index is associated with a significant inflow of foreign capital into a countrys equity markets and is an indicator of strong economic growth. Chinese millennials, those born between 1981 and 1996, number more than 350 million, or over 25 percent of China's population. Millennial women are also 36% more likely to have at least a bachelor's degree compared to their Silent generation predecessors. Even the sum of those who are already users and those interested in becoming users barely nudged above 50% among 25-to-34s and fell under that level among 35-to-44s. Millennials make up 13.9% of the total UK population. While Chinese Millennials are more inclined than previous generations to spend money on leisure, they will also face an increasing burden of paying for the rising healthcare and social welfare expenses of larger, older generational cohorts. Incidentally, the answers provided by Millennials and Gen Z respondents often were remarkably similar. While millennials are health conscious, money often keeps them from visiting a doctor. Updated: 01 Dec 2015, 01:44 AM IST Arundhati Ramanathan. or Millennials differ from their boomer parents. These percentages were significantly higher among millennials (77%) and teens (76%). Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. 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