2017 Young Generation's Future Reversal Power Survey_news release 1013

2017/10/13 10:45
Global Views Research Survey Release:
2017 “Future Reversal Power” Survey
Among Chinese Young Generation
 
Taiwan dares to dream despite uncertainties,
Shanghai bears strong power to reverse & execute,
Singapore believes in full dedication for better future,
Hong Kong values professionals but concerned for future
 
Global Views Research Center from Taiwan initiated and managed an unprecedented survey on “Future Reversal Power among Chinese Young Generation” among young adults aged 18-35 across Hong Kong (HK), Singapore (SG), Shanghai (SH) and Taiwan (TW) in the summer of 2017. The results found that Taiwanese are eager to turn things around with high “power to dream” and “power to drive” for success, but social-economic challenges are so enormous that need to be overcome and turned into real driving force and opportunities. Shanghai young people, optimistic about the economy, are highly confident in their own ability to reverse the future for a better life. Singapore also bears high “power to dream” and self-learning capabilities. Hong Kong, yet, with lowest “Future Reversal Power,” needs to be rejuvenated with growth momentum.
In face of the fast-changing world, this survey is aimed at better understanding of Chinese young adults aged 18-35 in terms of their goals or dreams, their ability to drive and execute and ultimately their confidence to reverse the future. The 2017 survey was conducted in July and August 2017 in four Chinese-populated areas under the collaboration of Taiwan’s Global Views Research Center, the Academy of Hong Kong Studies (AHKS) under the Education University of Hong Kong, Shanghai’s China Business News (CBN) Weekly and Singapore’s Zaobao (Morning Post).
 
Shanghai young people with strong power to reverse the future, followed closely by “dare-to-dream” Taiwanese
In this survey, “Future Reversal Power Index” is generated as an indicator of the ability to turn things around for a better future among young adults aged 18-35. The Index is the aggregation of three key powers rated by young people – their power to dream, their power to drive and their power to execute. The findings showed that Shanghai young adults are the most confident to reverse the future, scored at 66.6 (average out of 0-100 points) on “Future Reversal Power Index,” followed closely by Taiwanese at 66.3 and Singaporeans at 65.2 but Hong Kong people at distant last scored 55.6.
Despite growing uncertainties toward the macro environment in the past decade, Taiwan young adults are bearing high “power to dream” (scored at 71) and high “power to drive” for success (scored at 65.8), and thus, come close to Shanghai in “Future Reversal Power.” Though somewhat behind Taiwan on “power to dream” and “power to drive,” Shanghai people are much more prepared for taking action, scored the highest on their “power to execute” at 66. Singapore also scores high in “power to dream.” However, encountering recent controversies over China’s sovereignty and lingering high housing prices, Hong Kong young people seem losing momentum in reversing the future, scored the lowest in three key powers and the aggregated “Future Reversal Power Index” among four Chinese-populated areas.
 
 
Taiwanese greatly value the importance of future dream, Singaporeans highly committed to hard work for a better future
Young generation across the four areas unanimously recognize the importance of having dreams for the future, especially among Taiwanese (79.6% agreement) who seem clear about their goals (57.9%) and highly likely to work toward them (56.5%). Possibly under the influence of widely available subsidies and education from private corporations and the government, Taiwanese young generation showed their high “power to dream.” Singaporeans followed closely with high score in “power to dream” (70.5) and truly believe in full dedication leading to a better future (73.6 agreement), indicating that young Singaporeans are seeing growth opportunities to take advantage of government sponsorship for innovation in the past few years. Hong Kong, yet, is seen relatively conservative about the future, the lowest score in “power to dream.”
 
 
Taiwanese yearning for success, Shanghai people highly confident to innovate & overcome challenges
For the “power to drive”  success, Taiwanese again scored highest at 65.8, closely followed by Shanghai (64.7) and Singapore (62.4), while Hong Kong trailed behind (53). Further diagnosis showed that Taiwanese are willing to devote everything for success (50.2% agreement), while Shanghai people are highly confident to overcome challenges (66.7%) and ready to innovate (61.6%).
 
 
Action-oriented Shanghai young adults feeling outstanding in professional skills, self-learning, innovation and global vision
Compared with the other three areas, Shanghai young adults are highly confident in working toward their goal and scored highest in their “power to execute,” especially in professional skills, self-learning, innovation and global vision. Singaporeans are strongly convinced of their self-learning ability in coping with the future. Even with high “power to dream” and “power to drive” success, Taiwanese need to further enhance their execution skills in order to actually turn things around.
 
 
Shanghaiese & Taiwanese highly desired to be team leaders, while Hong Kong & Singapore young adults choosing to be professionals
In the next 10 years, Shanghai and Taiwan young adults aspire to become team leaders or managers. Taiwanese are especially eager to become entrepreneurs. For those fully-internationalized cities, young adults from Hong Kong and Singapore found professionals like lawyers or accountants highly desirable and reputable.
 
 
Common concerns are high housing prices, knowledge from school not transferable to work & lower-than-expected salaries, where Taiwanese generally conceiving more challenges than other counterparts.
This survey found that young adults in the four Chinese-populated areas are universally concerned about high housing prices, knowledge from school not directly transferable to work and salaries below expectation. Taiwan young people seemed encountering more challenges than others, possibly due to the stagnant economy and the declining competitiveness of their major universities in global high education ranking in recent years.
 
 
More than half in Shanghai, Singapore & Taiwan admitted the impact of national economy on individual achievement, while only about 1 in 10 in Hong Kong and Taiwan are optimistic about the future.
Except for Hong Kong under one-country-two-system, young people in the other three areas agreed that their country’s economy would more or less influence their personal achievement. However, this survey found that young adults in Hong Kong and Taiwan are generally pessimistic about the future economic development.
 
 
About the survey:
1. Management team: Global Views Research Center, Taiwan
2. Execution team:
Hong Kong: The Academy of Hong Kong Studies (AHKS), The Education University of Hong Kong
Shanghai:  China Business News (CBN) Weekly
Singapore: Zaobao (Morning Post)
Taiwan: Global Views Research Center
3. Target respondents: Chinese young adults aged 18-35
4. Geographic coverage: Hong Kong, Shanghai, Singapore & Taiwan
5. Methodology: self-administered online survey
6. Survey period: July to August 2017
7. Sample size:
Hong Kong: 1,000, Shanghai: 1,016, Singapore: 923, Taiwan: 1024
 
 
For any queries, please contact:
Shirley Yam, Vice President of Global Views Research Center, at +886-2-2517-3688 ext. 635 or shirley.yam@cwgv.com.tw