Gen Z Key to Developing a Blueprint for Tomorrow’s Resilient Economy

Gen Z research guest post by George Maybury, Public Sector Director at Dell Technologies Ireland

In today’s digital age, technology is unlocking new opportunities to advance sustainability and create more resilient economies fit for the future.

Enter Generation Z: those born between 1997-2012. This group will make up about 27% of the global workforce by 2025. With Gen Z accounting for 21% of the population in 2016 and preliminary results from the 2022 census pointing towards further growth, Ireland’s younger generations are set to make an increasingly lasting impact on our economy.

Gen Z will be critical in navigating the economic, geopolitical and environmental landscapes ahead. To understand their views on key topics like investment priorities, digital healthcare and digital skills, Dell’s Future Proof report surveyed 15,000 Gen Z adults (aged 18-26) globally. Encouragingly, nearly half of Gen Z in Europe (47%) are willing to accept limiting their country’s shorter-term economic health, like lower real GDP growth, for investment in a longer-term strategy that addresses environmental sustainability.

At the same time, however, their confidence in government’s ability to deliver a digital-first, resilient global economy is in the balance. Across the European countries in the study, 39% have low or no confidence.

To gain Gen Z’s trust and secure our collective future prosperity, government, education, and the private sector have a unique opportunity to work together and invest in the infrastructure and skills that will underpin tomorrow’s digital-first economies.

Investing in a sustainable future

No matter where you live, the reality of the climate crisis is always present. Gen Z will bear the brunt of the action we take on climate change and they have a clear message: technology must play a central role in addressing this pressing challenge. Almost two-thirds of respondents in Europe (67%) said that technology will play an important role in the fight against climate change.

They also recognise the importance of investing in the infrastructure that will underpin more sustainable solutions. Nearly half (44%) of respondents across Europe said that investment in infrastructures for sustainable energy was one of the most important actions the government should take between now and 2026.

Many governments are already setting long-term funding pledges for the technology and science sectors centred on how they can help climate change. The Government’s Climate Action Plan 2023 aims to keep Ireland’s emissions within its mandatory carbon budget and achieve the legally binding target of reducing emissions, contemplates approximately €120 billion in investment in infrastructure and technology between 2022 and 2030.

Revolutionising healthcare access

Unsurprisingly given the events of the last four years, health is another key priority among Gen Z globally. An average of 44% of Gen Z respondents across Europe said that improving healthcare services was the number one priority for government recovery spending between now and 2025.

The pandemic accelerated the rollout of digital healthcare solutions, with countries introducing telehealth solutions when face-to-face consultations had to stop overnight. At the same time, however, Gen Z respondents feel there is more providers could do. Nearly half of respondents in Europe (41%), for example, said long waiting times for appointments had caused them to put off making a health appointment in the last two years.

Pressures on access will increase as populations continue to grow. To safeguard these healthcare infrastructures, we must therefore redouble efforts to roll out secure, accessible digital healthcare solutions.

Plugging the skills gap

Responses from Gen Z on topics like the importance of digital skills for their current and planned careers suggest we should do more to equip current and future generations. Despite three-quarters (76%) of Gen Z adults in Europe stating that learning new digital skills is essential to making sure they have plenty of career options and secure continuous employment in the future, almost half (45%) said their school only taught them very basic computing skills.

Asked about ways to address this issue, an average 39% of respondents in Europe recommended a collective response from governments, policymakers and education providers to bridge the digital skills gap. This cannot be a one-and-done moment, either. Curricula and training courses must be updated to keep pace with the rate of technological innovation.

As we look ahead, it’s clear that we are all facing evolving challenges. Gen Z’s feedback shows that if we make the right choices and build trust, our youngest generations see the value of investing today for a more resilient and prosperous future. If we act collectively and decisively, we can address these pressing issues and set our societies up for success.