Saudi millennials more optimistic about future than global peers: Deloitte

Millenials in Saudi Arabia are more satisfied with their life today compared to their global peers, according to the latest 2019 Deloitte Global Millenial Survey.

The latest edition of the report is based on the views of over 13,000 millennials spread across 42 countries and includes responses from 3,009 Gen Z respondents in 10 countries.

Saudi millennials were surveyed for the first time, conducting 301 interviews to provide a glimpse into regional attitudes and ambitions across business, society, media and Industry 4.0.

“Millennials make up over a quarter of Saudi Arabia’s population and are playing a hugely significant role in the nation’s socioeconomic development,” Omar Fahoum, CEO, Deloitte Middle East, said.

“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,” he added.

“Such findings represent positive indicators for Saudi Arabia’s private sector and the government’s economic development goals,” Fahoum noted.

The survey revealed that on an average, the millennial generation in Saudi Arabia is more satisfied with their life today compared to the global average, with 34 percent of Saudi responding positively compared to only 29 percent globally In addition, 58 percent of Saudi youth have ambitions to start their own business, while globally only 38 percent have the same goal.

Saudi youth 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, the study highlighted.

Results from the Saudi market also revealed 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.