According to a recent survey by Dell Technologies, 67% of Singaporeans between the ages of 18 and 26 believe that the government should prioritise a longer-term strategy that encourages sustainable growth, even if it results in short-term economic limitations like slower GDP growth. This indicates that Gen Z Singaporeans are not solely focused on short-term economic gains but are more concerned about the long-term impacts of economic growth on the environment.
Circular economy, sustainable energy, and smart cities
The survey also revealed that 41% of Singapore’s Gen Z residents want the government to prioritise funding for initiatives that support a circular economy, 36% favour sustainable energy sources, and 34% favour smart cities. This implies that they are seeking more environmentally friendly and long-lasting solutions to aid in economic growth.
Greater sustainability education
In addition, some Gen Z Singaporeans (23%) are also calling for greater sustainability education for citizens. This highlights their desire to educate themselves and others about the importance of sustainability and its impact on the economy and society.
Confidence in Public Sector Recovery Investments
Notwithstanding worries about short-term economic constraints, 56% of Singaporeans in the Gen Z demographic are optimistic that public sector recovery investments will result in a thriving economy within 10 years. This indicates their trust in the government’s ability to make sustainable investments that will benefit the economy in the long run.
Long-Term Strategies for Sustainable Economic Growth
The decisions made today on public and private investment will probably have the greatest influence on Singaporeans in Generation Z. There is a chance to win Gen Z’s support for longer-term plans that put sustainability at the centre of plans for economic growth.
Also read: Small & Medium Enterprises (SMEs) Prioritise Overseas Expansion & Market Exploration, DBS Survey Finds
The results of the survey show that Singaporeans in Generation Z are becoming more aware of how important sustainability is to economic growth. They want the government to put smart cities, a circular economy, and clean energy at the top of its investment list. Also, they advocate for better citizen education on sustainability. Gen Z Singaporeans are optimistic that public sector recovery initiatives would result in a thriving economy within 10 years, notwithstanding the possibility of short-term economic limits. This provides an opportunity for the government to implement long-term strategies that prioritise sustainability for sustainable economic growth.
