snoop1130 Posted August 6, 2020 Share Posted August 6, 2020 Young people confident in their skills, willing to adapt, work harder post-pandemic: survey By The Nation A Standard Chartered study shows those aged 18-34 in 12 countries are keen to take steps to adapt income streams, and re-skill if they can, in order to earn more. Covid-19 is significantly impacting personal finances globally, with one-third already earning less and more than half expecting the pandemic to further affect their income and/or employment, a Standard Chartered survey has found, yet young people (aged 18-34) and those in emerging markets are the most confident in their digital skills and are prepared to adapt and work harder to realise opportunities in a post-Covid-19 world. The study was conducted on 12,000 adults (aged 18 and above) across twelve markets – Hong Kong, Taiwan, mainland China, Singapore, Indonesia, Malaysia, India, the UAE, Kenya, Pakistan, the UK and the US. It reveals a stark contrast between the financial reality that people face and their confidence in the future. This can be explained by a willingness – particularly among young people and those in emerging markets – to work harder, take steps to adapt income streams, and re-skill if they can, in order to earn more, Standard Chartered said in a press release today (August 6). Young people are particularly confident, with 80 per cent of 18- to 34-year-olds feeling they have the digital skills needed to thrive post-pandemic compared to 63 per cent of those over 65. And with many graduating or leaving school in the midst of a global recession, younger generations are also more willing, or able, to adapt to the current circumstances. For example, 75 per cent of 25- to 34-year-olds would consider setting up a second income stream, compared to 40 per cent of those over 55. Meanwhile, and 72 per cent of all 18- to 44-year-olds would re-skill, compared to 37 per cent of those aged 55 and above, the company said. Millennials and Generation Z are also more likely to respond to the crisis by starting a new business. For instance, 52 per cent of those aged 18 to 44 would consider doing so in the next six months, compared to 30 per cent of those 45 and above. “Globally, this level of flexibility, adaptability and entrepreneurialism tends to decrease with age, along with confidence, despite – or perhaps because – older generations are more established in their careers. "The divide is even more stark when comparing developed and emerging markets. Those in established global economies are not only less confident they have the digital skills needed to thrive amidst the downturn but are also less willing to adapt and take steps to increase their income,” Standard Chartered said. More than 88 per cent of those surveyed in Kenya, mainland China, India and Pakistan said they would prefer to work more to get ahead than reduce their hours for less pay. Meanwhile, the UK and the US had the highest proportion of people who valued free time over more money – 38 and 33 per cent, respectively. In terms of personal finances, respondents in Kenya (93%), mainland China (85%), Malaysia (83%) and India (82%) report the highest proportion of people who want to better manage their money to make it go further. And while the pandemic has acted as a catalyst for the growth of online banking, with more than half globally using online services more, the shift has been apparent in fast-growing markets. For example, increased use of mobile devices for banking services is most prominent in India (79%), the UAE (72%), and Kenya (69%). Fast-growth markets are also more likely to want their banks to help improve their confidence at managing money digitally as they increasingly look to bank online – Kenya (91%), India (84%) and Indonesia (84%). According to Standard Chartered, there is one clear area of almost unanimous agreement: a global desire for more flexibility when it comes to working arrangements post-Covid-19. For those for whom it is applicable, 71 per cent would prefer to continue working from home at least two days a week once restrictions are lifted and 77 per cent want more flexible working arrangements. “Young people around the world have been hit particularly hard by the economic impact of the pandemic,” said Ben Hung, CEO of Retail Banking and Wealth Management and regional CEO for Greater China & North Asia at Standard Chartered. “Many are in insecure employment or graduating to a tough job market. Yet their confidence, adaptability and willingness to work hard, especially in fast-growing markets, provides hope for a recovery. “Many are considering starting a new business in the wake of the pandemic and want to learn how to manage their finances better. They must be supported. Banks have a role to play both by helping them manage their money and providing tools that make banking easier so they can focus on leading the way to recovery,” Hung added. Source: https://www.nationthailand.com/business/30392538 -- © Copyright The Nation Thailand 2020-08-06 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
CGW Posted August 6, 2020 Share Posted August 6, 2020 (edited) The poorer end of society, those with little education will be forgotten about - as usual, their futures are not even worth the consideration of the Global financiers! The covid "agenda" is going to play out as planned, cheaper labour and further the implementation of eugenics, pretty much as per UN2030 resolution! Surprise, surprise! "Brave New World" or "1984" which one more accurately portrays the dystopian world we will be living in? Edited August 6, 2020 by CGW 2 Link to comment Share on other sites More sharing options...
Popular Post Snackbar Posted August 7, 2020 Popular Post Share Posted August 7, 2020 Have we not learnt anything? Back to promoting greed. Must earn more money, to buy more <deleted> we just do not need. Disgusting. 2 1 Link to comment Share on other sites More sharing options...
Popular Post Sydebolle Posted August 7, 2020 Popular Post Share Posted August 7, 2020 Well, in Thailand you would have to start with basics like show up on time, show up after pay day (not drunk) and stop taking short cuts everywhere when working. Forget Thai words like "never mind" and "be afraid of offending" (เกรงใจ), be open, direct and responsible for things they do. They need to learn to admit mistakes and learn, that faces cannot be lost. All the latter is purely educational - hence I have rather slim hopes for any changes anytime soon as long as Thailand is run by dinosaurs. 2 3 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted August 7, 2020 Popular Post Share Posted August 7, 2020 15 hours ago, snoop1130 said: The study was conducted on 12,000 adults (aged 18 and above) across twelve markets – Hong Kong, Taiwan, mainland China, Singapore, Indonesia, Malaysia, India, the UAE, Kenya, Pakistan, the UK and the US. Thailand wasn't asked because it was a waste of time, no-one could understand the questions. 1 2 Link to comment Share on other sites More sharing options...
Orton Rd Posted August 7, 2020 Share Posted August 7, 2020 'Young people are particularly confident, with 80 per cent of 18- to 34-year-olds feeling they have the digital skills needed to thrive post-pandemic compared to 63 per cent of those over 65' Judging by the workers I see in shops and offices I take this to mean confident they can play on their phones most of the time they are meant to be working ???? 1 1 Link to comment Share on other sites More sharing options...
Happyman567 Posted August 7, 2020 Share Posted August 7, 2020 Thailand treats its education system as a joke and it is. Lots of young people running around with degrees and no job. My step daughter classic example. The first thing they must do is make young people responsible and actually turn up for work instead of sleeping all day. Be a hard task i feel as i have seen the average Thai worker in action. When the wife puts puts up a sign in her shop window "Help wanted' and nobody applies what is that telling you? Link to comment Share on other sites More sharing options...
Bender Rodriguez Posted August 7, 2020 Share Posted August 7, 2020 say what now ? have you seen more lazy uneducated people thinking so high of themselves anywhere else in the world ? 1 Link to comment Share on other sites More sharing options...
micmichd Posted August 7, 2020 Share Posted August 7, 2020 1 hour ago, Orton Rd said: 'Young people are particularly confident, with 80 per cent of 18- to 34-year-olds feeling they have the digital skills needed to thrive post-pandemic compared to 63 per cent of those over 65' Judging by the workers I see in shops and offices I take this to mean confident they can play on their phones most of the time they are meant to be working ???? Funny. The workers I see in shops and offices are working. Pay them good wages and they will work. Link to comment Share on other sites More sharing options...
micmichd Posted August 7, 2020 Share Posted August 7, 2020 3 hours ago, Snackbar said: Have we not learnt anything? Back to promoting greed. Must earn more money, to buy more <deleted> we just do not need. Disgusting. Up to them what they buy for their money. At least they're motivated to work for it. While in the country where I come from (Germany) they yell for unconditional universal basic income, ie money for nothing. That's far more disgusting. 1 Link to comment Share on other sites More sharing options...
micmichd Posted August 7, 2020 Share Posted August 7, 2020 43 minutes ago, Happyman567 said: Thailand treats its education system as a joke and it is. Lots of young people running around with degrees and no job. My step daughter classic example. The first thing they must do is make young people responsible and actually turn up for work instead of sleeping all day. Be a hard task i feel as i have seen the average Thai worker in action. When the wife puts puts up a sign in her shop window "Help wanted' and nobody applies what is that telling you? The wife forgot something on her sign : The wage. Link to comment Share on other sites More sharing options...
Orton Rd Posted August 7, 2020 Share Posted August 7, 2020 55 minutes ago, micmichd said: Funny. The workers I see in shops and offices are working. Pay them good wages and they will work. Try walking around Big C Link to comment Share on other sites More sharing options...
Myran Posted August 7, 2020 Share Posted August 7, 2020 5 hours ago, Bender Rodriguez said: say what now ? have you seen more lazy uneducated people thinking so high of themselves anywhere else in the world ? The irony of calling other people lazy and uneducated, while being too lazy and/or uneducated to actually read the article you're commenting on. Hint: It's not about young people in Thailand. Link to comment Share on other sites More sharing options...
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