Young Asians happy despite global economic concerns

However, the study found that despite significant economic concerns, the vast majority of people under 30 demonstrate a strong sense of happiness and optimism.

Titled “The Next Normal: An Unprecedented Look at Millennials Worldwide”, the study included fresh insights from additional Asia countries, including Thailand, Malaysia and the Philippines. The study released last November provided a truly global portrait of this highly influential demographic. The in-depth findings were presented in Bangkok recently by Christian Kurz, vice president of international research and insights at Viacom International Media Networks.

The study spans every continent and delivers insights into the attitudes, values, aspirations and perspectives of people aged nine to 30 from 32 countries. The project included more than 20,000 interviews, in-depth explorations and expert contributions and commentaries. In Thailand, it included insights from over 450 young people.

According to the study, more than three-quarters (76 per cent) describe themselves as “very happy”, while their levels of happiness outweigh stress levels by a factor of more than 2:1.

Thais were the third-lowest in their happiness level across Asia at 78 per cent. Filipinos led the charge in Asia at 83 per cent, followed by India (81 per cent), China (80 per cent), Malaysia (77 per cent) and Singapore (69 per cent).

“We have a wealth of research on how young people approach life, what they consider important and how they cope with challenging situations,” Kurz said. “This study builds on Viacom’s already significant leadership in understanding our audiences and is a perfect example of our commitment to extending this knowledge and expertise globally.”

Additionally, many young people suffer from job insecurity. Economic concerns have resulted in a legacy of fear around job security and doubts about upward mobility. Globally, unemployment outweighs world hunger as the top global issue that young people want to see solved.

Almost half of young people (49 per cent) believe that job security will continue to get worse. A full 78 per cent would rather have a minimum-wage job than no job at all. While 38 per cent of young people in 2006 strongly agreed with the statement “I will earn more than my parents,” that percentage has dropped to 25 per cent since the US-led financial crisis that began in 2008.

Spending time with family is the top driver of happiness for young people.

“Thanks to the importance millennials place on family bonds, the family unit today is closer than ever,” Kurz said. “‘The Next Normal’, based on the widest ever cross-section of millennials, confirms that this emphasis on family is a global phenomenon.” 

Friendships, both real-life and online, are another key driver of happiness. There is a trend towards smaller circles of real-life friends compared with online friends, which are skyrocketing.

Over the six years leading up to last year’s study, young people maintained about the same number of best friends, but their wider circle of everyday friends was shrinking. On the other hand, they averaged well over 200 online friends. In those six years, there was a significant jump in the number of online contacts whom they consider friends, but have never actually met in person.

In Thailand, besides family members, celebrities and teachers are seen to be great inspirations. Top stress relievers in Thailand were watching TV, sleeping and conversing with their parents.

Rather than defining the millennial generation, technology is an enabler. If asked, a member of this age group might say, “Technology doesn’t make me who I am. It lets me be who I am.” 

Technology underpins relationships and plays an important role in sustaining happiness and broadening horizons. Three-quarters of respondents believed that social media had a beneficial effect on relationships with friends. A full 73 per cent said access to the Internet changed the way they thought about the world.

Asia young people are more active than elsewhere in the world on Facebook and Twitter while watching TV (apart from Japan). China stands out as being particularly active microblogging on Weibo and young Filipinos are generally highly enthusiastic users of all kinds of communications. 

In Thailand, social-media activities (42 per cent send messages while 46 per cent communicate) are higher than text messaging while watching TV (27 per cent).