Different Generations Have Different Economic Habits

Analysis

Different generations have spectacularly different economic habits, according to an analysis by the Oeconomus Economic Research Foundation, business daily Világgazdaság writes.

The difference between the "typical" member of the American and Hungarian Generation X is the slower technological development in Hungary. At the same time, the members of the generation experienced significant social and cultural transformations in this country as well (socialism, system change, the economic difficulties of the 1990s), meaning that the Hungarian generation is also characterized by independence and flexibility.

With Generation Y (also known as the millennials), the era of the new "type" of employees, who were born into an increasingly digital, computer technology-driven world, began. Work-life balance is important to them; they are less willing to dedicate their lives to work than their parents, so they change jobs more often if they feel the need.

Members of Generation Z can rightly be called digital natives as smart devices were already part of their childhood. Since the members of Gen Z can be as young as 14 years old, their characteristics are less mature, and not all of them have entered the labor market yet. 

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