Millennials Stand for Globalism and Want to Shape the Future

Business Wire India

New research commissioned by Western Union shows that millennials across 15 countries are united by a belief in globalization, want the freedom to experience the opportunities it brings, and have a desire to play a role in shaping the future using technology. The survey of more than 10,000 millennials reveals that this group is confident that globalization will make the world a better place for themselves and others and are committed to leading the change.

 

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The world—politically, economically, socially, and technologically—is in flux. But what does this all mean for our future? The Western Union Company (NYSE: WU) has commissioned a first-of-its-kind global study about millennials’ beliefs, hopes, and aspirations for the future and the world that they wish to shape for themselves and others.

 

The 2017 Western Union Global Study—“Globalization: A World View of the Future”—surveyed native, first-generation, and foreign-born people between the ages of 20-36 in Australia, Brazil, Canada, China, Egypt, Germany, India, Indonesia, Mexico, Russia, South Africa, United Arab Emirates, United Kingdom, United States, and Vietnam through online interviews. Most countries surveyed represent significant millennial populations.

 

The survey shows that in sharp contrast to current geopolitics, this diverse group of tomorrow’s future shapers is united by a belief in a world of collaboration, unrestricted by geographical borders.

 

Western Union President and Chief Executive Officer Hikmet Ersek said, “The world is changing and there is a new economic power shift driven by a new generation of global citizens. They are shaping the future, and inspiring others to do the same. They are redefining globalization to one of ‘personal globalization’ where the pursuit of limitless cross-border movement, cross-border digital communication, and creative lifestyle drives new economic power.

 

“These inspiring future shapers are the leaders of tomorrow and are looking at how they want the world to be, not only for themselves, but for all. This generation is made up all kinds of future leaders—entrepreneurial, corporate, political, and social influencers. It is vitally important to understand what they think and what they want the world to look like,” said Ersek.

 

Western Union operates in 200 countries and territories worldwide, and commissioned the survey to gain additional insights into the younger customers it serves through its digital channels.

 

The following key findings are highlighted as important to millennials (please access supporting data in the Key Findings section below):

 

Global Citizenship: The Way of the Future

 

Global citizenship is pivotal for creating the world millennials want for the future, as they believe the concept of belonging to one individual country is outdated. Millennials view connection and collaboration as the most critical steps forward to achieving global citizenship.

 

Freedom to Be Global Safeguards the Future

 

The idea of limitless movement empowers millennials, as they believe it will allow them to control their destiny. The majority of millennials believe that creating a more open world will unlock opportunities for better job prospects and result in economic freedom, including the ease of money movement.

 

Governing the Future

 

Today, borders going up across the world—and politicians and governments reasserting the concept of the nation state—are leading many millennials to believe that these institutions are not representing their respective views. However, a significant number of millennials are adamant that collaboration is essential and believe that shaping the future is up to them, rather than institutions.

 

Unity and Inclusiveness

 

There are mixed sentiments regarding whether the world is at peace, given concerns that increased racism and nativism may pose a threat to global citizenship and an open world. Millennials believe the most important trait to eradicate social discrimination is ensuring that there is respect for diversity.

 

In tribute to the future shapers of the world, please view Western Union’s #LiveMore #ShareMore. manifesto.

 

WU-G

 

About Western Union

 

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil, and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable, and convenient ways to send and receive money around the world, to send payments, and to purchase money orders. As of September 30, 2017, the Western Union, Vigo, and Orlandi Valuta branded services were offered through a combined network of over 550,000 agent locations in 200 countries and territories and over 150,000 ATMs and kiosks, and included the capability to send money to billions of accounts. In 2016, The Western Union Company completed 268 million consumer-to-consumer transactions worldwide, moving $80 billion of principal between consumers, and 523 million business payments. For more information, visit www.westernunion.com.

 

The 2017 Western Union Global Study
“Globalization: A World View of the Future” Key Findings:

 

Global Citizenship: The Way of the Future

 

Global citizenship is pivotal for creating the world millennials want for the future, as they believe the concept of belonging to one individual country is outdated. Millennials view connection and collaboration as the most critical steps forward to achieving global citizenship.

 

• The majority see themselves as global citizens rather than a citizen of any one country. This view is shared regardless of if they are native, first generation, or foreign born (57%).
• Approximately 90 percent agree that a better global future can be achieved through collaboration. They believe countries need to collaborate, rather than compete with one another, leading to a better global future (88%).
• More than 8 in 10 state that the rise of social media has played a significant role in uniting the world, promoting transparency, encouraging debate on global issues, and contributing to greater community unity (84%).
• Nearly two thirds believe that the free flow of technology (60%) and information (57%) across borders will become easier, but anticipate the flow of political ideas (61%) and people (60%) to become more difficult or remain stagnant.
• The majority view connection as a critical step forward to achieve global citizenship. Staying connected to global news via social media (49%), connecting with people from different cultures (47%), travelling to new places (43%), and interacting with people that are different from themselves (42%) is their way of creating a world they want for the future.

Freedom to Be Global Safeguards the Future

 

The idea of limitless movement empowers millennials, as they believe it will allow them to control their destiny. The majority of millennials believe that creating a more open world will unlock opportunities for better job prospects and result in economic freedom, including the ease of money movement.

 

• The desire for global citizenship is also about young people safeguarding their future. Almost eight in ten agree the thought of a future with limitless movement around the world empowers them (79%).
• More than two thirds agree they are better off financially due to their ability to live and work in other countries (71%).
• More than eight in ten agree that their ability to live and work in other countries will unlock opportunities for a better job and education (86%), and is a key component to their economic and personal freedom (82%).
• There is also the hope that people and business will work together, and that the exchange of commerce and money will become easier by 2030. More than half believe that sending money to a person in another country is set to get easier by 2030 (56%), with one-third arguing that a single global currency would foster great global unity (29%).
• Eventually, they believe that the world will take on a more globalized outlook, with 79 percent believing that the future will fit with the aspirations of global citizens.

Governing the Future

 

Today, borders going up across the world—and politicians and governments reasserting the concept of the nation state—are leading many millennials to believe that these institutions are not representing their respective views. However, a significant number of millennials are adamant that collaboration is essential and believe that shaping the future is up to them, rather than institutions.

 

• More than eight in ten (88%) want to participate or have their say on future matters of global and national significance. They believe technology can enable individuals to make their voices heard more easily.
• Seven out of ten believe future governments will be hybrids of democratic institutions and individuals—representing the power of people (70%).
• More than two thirds believe that shaping the future is up to them as individuals, rather than governments (71%).
• Forty percent believe the creation of a globalized world requires shared responsibility of all. This includes global and national stakeholders, such as international organizations, governments, the private sector, local communities, and individuals, all taking responsibility.
• Many expressed concerns that governments today are not fulfilling their hopes or representing their generation’s views. Two thirds believe that global institutions like the United Nations are more representative of them, rather than national or local governments (61% vs. 48% and 44%). Out of the 15 countries surveyed, millennials in:
  • US, UK, Australia, Brazil, Mexico, and Germany said, after global institutions, their local government represented them better than their national governments.
  • China, Egypt, Indonesia, and Vietnam said, after global institutions, their national government represented them better than their local governments.
  • Canada, Russia, and the UAE said their national government represented them better than global institutions and their local governments.
  • And in India, they said, global institutions and national governments represent them equally, while in South Africa they believe that their national and local governments represented them equally, after global institutions.

Unity and Inclusiveness

 

There are mixed sentiments regarding whether the world is at peace, given concerns that increased racism and nativism may pose a threat to global citizenship and an open world. Millennials believe the most important trait to eradicate social discrimination is ensuring that there is respect for diversity.

 

• Millennials are more divided than they are united about whether or not the world is currently at peace. Nearly 8 out of 10 say the world is more divided now than it was in 2015. More than half believe it will be more divided by 2030 (53%), while more than four out of 10 believe the world will be more united (47%).

• Those surveyed identify racism and a fear of immigrants as the biggest threats to global citizenship and an open world (36%), followed by nationalist politics, religious differences, and outdated immigration policies.
• The most important traits for achieving global citizenship and eradicating social discrimination is ensuring that there is respect for diversity and the ability to embrace other countries. Those surveyed identify respect for diversity (46%), the ability to embrace other cultures (43%), and adaptability (39%) as the most important traits of a global citizen.
• These future shapers believe that tackling issues of racism, xenophobia, religious intolerance, gender inequality, and freedom to be anywhere in the world are important to creating an ideal future world. A future free of racism (42%); barriers based on gender, religion, culture, or nationality (38%); and the ability to live, work, and play anywhere in the world (37%) were cited as the three most important factors for success.

The study consisted of a 15-country survey of 11,060 millennials (ages 20 to 36) with a +1.0% margin of error globally. The survey was completed in the following countries: Australia (n=1,104, +3.0%), Brazil (n=660, +4.0%), Canada (1,004, +3.0%), China (n=731, +3.0%), Egypt (n=578, +4.0%), Germany (n=505, +4.0%), India (n=844, +3.0%), Indonesia (n=716, +4.0%), Mexico (n=654, +4.0%), Russia (n=654,+4.0%), South Africa (n=664, +4.0%), the United Arab Emirates (n=500, +4.0%), the United Kingdom (n=1,009, +3.0%), the United States (n=1,004, +3.0%), and Vietnam (n=523, +4.0%). A full report for each country as well as the global results is available upon request. The research was conducted by Research Now via online interviews from September 26 to October 6, 2017.

 

 

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