Saudi millennials are more optimistic than their global counterparts, according to a new survey launch by Deloitte.
The 2019 Deloitte Global Millennial Survey showed that younger Saudis are more satisfied with their life with 34 percent of Saudi responding positively compared to only 29 percent globally.
Results from the Saudi market reveal that local millennials generally have more positive views about businesses, with 65 percent of respondents expressing a general belief that companies have a positive impact on the wider society in which they operate.
The country's younger generation is also more ambitious about their career and entrepreneurship opportunities.
Fifty-two percent of Saudi millennials have ambitions to reach a senior level in their chosen career paths, compared to 34 percent globally.
The survey also revealed that 58 percent of Saudis have ambitions to start their own business, while globally only 38 percent have the same goal.
Saudi millennials also have high self-expectations, as 68 percent believe that that their ambition to launch their own business is achievable, while 70 percent expect that they will reach a senior level in their chosen career path.
As part of Deloitte’s ongoing research on millennials, its new tool called the MillZ Mood Monitor tracks respondents’ year-over-year optimism about key political, personal, environmental and socioeconomic topics.
In the inaugural Mood Monitor, out of a total of 100, global millennials posted a score of 39 while Saudi millennials scored 51, significantly higher.
Deloitte said scores were boosted by generally positive feelings regarding business and the environment.
Globally, the eighth annual study found that, despite global economic growth, expansion and opportunity, younger generations are wary about the world and their place in it. But they remain hopeful and have strong values as both consumers and employees.
“Millennials make up over a quarter of Saudi Arabia’s population and are playing a hugely significant role in the nation’s socioeconomic development,” said Omar Fahoum, CEO, Deloitte Middle East.
“Our survey demonstrates that Saudi Arabian millennials are far more bullish about the economic outlook for their own country than global peers, hold a more positive perception of business, and possess the skills and knowledge to find success in Industry 4.0 roles.
"Such findings represent positive indicators for Saudi Arabia’s private sector and the government’s economic development goals.”
Globally, respondents’ anticipation for economic improvement dipped to the lowest level in six years at 26 percent, down from 45 percent a year ago.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.