Baby Boomers and Gen X have less confidence than Millennials and Gen Z about Australia’s future based on the decisions being taken today by the current leadership, according to a new study by global professional services company GHD.
GHD’s CROSSROADS intergenerational equity research was based on a comprehensive survey conducted in May 2024 across ten countries: Australia, Canada, Chile, New Zealand, the Philippines, Qatar, Singapore, the United Arab Emirates, the United Kingdom, and the United States. A total of 13,000 adults, sampled to be representative of age, gender and region in these countries, participated in the study.
The research exposed the stark contrast between younger and older Australians in levels of optimism about the future. Asked to look 30 years into the future and consider “…whether the decisions being made by the current generation of leaders will leave your community in a better or worse state than it is today”, Gen Z and Millennials respondents were nearly twice as optimistic as older generations. While 42 percent of Gen Z and 36 percent of Millennials agreed the state of their community would be much better or a little better, just 19 percent of Gen X and 27 percent of Baby Boomers concurred with this opinion.
According to GHD Future Communities leader, Michelle Cramer, the findings highlight the importance of engaging today’s youth as much as possible to help shape the world of tomorrow.
“Incorporating youth in decision-making processes is essential for creating inclusive, innovative, and forward-looking policies that help shape a sustainable, prosperous future,” says Cramer. “This is a key part of responding to the question, ‘How can we be good ancestors?’. Intergenerational equity is about achieving fairness and justice across all generations, both now and in the future. Clearly, young people are the ones who will live the longest with the consequences of today’s decisions, but just as importantly, they bring new ideas, innovative solutions and a different perspective on problems. Their familiarity with technology and contemporary issues can lead to creative approaches that older generations might not consider.”
“Another benefit is decision ownership. By involving young people in decision-making, they are much more likely to feel invested in their communities, leading to greater civic participation and responsibility. It also fosters their development as future leaders, equipped with the experience and knowledge to navigate complex future challenges. And given our ageing population, it’s even more important that we look for opportunities to engage the younger generation now.”
One area where Australians of all ages agree is on the need to prioritise affordable housing: 63 percent of Australians surveyed say there is a need for more varied, cheaper housing options, and alarmingly, more than 60 percent of respondents believe we are heading off track in solving the housing affordability crisis.
Other common areas of concern include the cost of living, and the accessibility and reliability of transportation, while only 44 percent of Australians believe they have experienced climate change effects, such as extreme weather events, compared to a global average of 64 percent.
“What we’re seeing is the extreme impact of rapid inflation and cost of living pressures in the post-pandemic years on people’s outlook and priorities,” says Cramer. “Despite the prevalence of extreme weather events such as widespread flooding in recent years, financial pressures are now the dominant concern throughout our society across all generations.”
Image: Supplied
