Millennial and Gen Z Filipinos are significantly more optimistic about their country’s future economic and sociopolitical situation than their global peers despite having their own significant worries and stressors, findings of the Deloitte’s 2022 Gen Z and Millennial Survey.
The report said four out of 10 Gen Zs and more than 50 percent of millennials expect the Philippines’ overall economic and sociopolitical situation to improve in the next 12 months, compared to less than 30 percent of their global peers who feel the same about their respective countries.
The survey done on November 2021 to January 2022 gathered the views of 23,220 respondents (14,808 Gen Zs and 8,412 millennials) from 46 countries, including the Philippines where there were 400 respondents.
Despite their optimism, this year slightly more Filipino millennials (48%) and Gen Zs (68%) report feeling anxious or stressed out all or most of the time, a 2 percent and 1 percent increase, respectively, from last year. Globally, 38 percent (-3 from 2021) of millennials and 46 percent (unchanged from 2021) of Gen Zs feel stressed out most of the time.
Asked what issues contribute to their feelings of anxiety or stress, more than 60 percent of Filipino Gen Zs identified four: their longer-term financial future, their day-to-day finances, concerns about their mental health, and family/personal relationships.
As for their millennial peers, 63 percent said concerns about their mental health contribute to their feelings of anxiety, followed by their longer-term financial future, which is a stressor for 56 percent of Filipino millennials.
Seventy percent of Filipino Gen Zs and 63 percent of millennials admit to feeling burned out due to the demands of their workload, compared to just 45 percent of their peers globally. Fifty-eight percent of Philippine respondents said many of their colleagues have recently left their company due to this work pressure, compared to 43 percent globally.
