Friday, 7 December 2018
A Millennial Looks at an Emerging Market: South African Youths (LSN Global)
Houghton, H. 2018
South Africa has a shortage of career opportunities which, for the younger generations is causing frustration. As a result of this, they are forming new subcultures derived from local traditions, helping to create a sense of unity between them. They are sceptical of Westernised Christianity, so are embarking on journeys of spiritual self-discovery.
The unemployment rate of 15-24 year olds in South Africa is 52.4% - over half of that demographic. Due to this high unemployment rate there are alternative routes emerging to try and find work. One of these routes has been the development of digital skills which many young people have developed at school or through socialising.
Alongside this is potential for Generation Z to look into employment in agriculture. To encourage young people to consider a career in farming to help tackle the country's food shortages.
There is also an increase in spirituality in the country. Africa is home to the largest number of Christians in the world, however, young people are seeking guidance or escapism are opting for tradition African spirituality.
This emerging market may be key so solving some issues such as sustainability and ethical issues within different industries. It appears South African youths are keen workers despite the lack of employment. This could be a key market to tap into in both the production side of businesses as well as the consumption side.
Post Influenced by LSN Global
Houghton, H. (2018). Emerging Youth: South Africa. [online] Emerging Youth: South Africa | LS:N Global. Available at: https://www.lsnglobal.com/markets/article/23092/emerging-youth-south-africa [Accessed 21 Nov. 2018].
Image Reference
Houghton, H. (2018). Emerging Youth: South Africa. [online] Emerging Youth: South Africa | LS:N Global. Available at: https://www.lsnglobal.com/markets/article/23092/emerging-youth-south-africa [Accessed 21 Nov. 2018].