You are visiting a page on our global site but we noticed that you are in United States.
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Study Shows How Demographic Shifts Will Impact The Global Workplace by 2030

1/7/2020

New Opportunities and Challenges Arise for Global Cities as 693 Million Boomers Reach Retirement Age and 1.3 Billion Gen Z Set to Enter Workforce

CHICAGO - The retirement of Baby Boomers and the debut of Generation Z workers, along with other demographic shifts, has major implications for real estate occupiers, investors and policy-makers around the world according to a new global research report from Cushman & Wakefield (NYSE: CWK). All stakeholders need to understand the impacts of these trends and how to position themselves to maximize opportunities.

This press release features multimedia. View the full release here.

Figure 1: Real GDP growth vs. working-age population growth, global analysis, 2020-2030

Figure 1: Real GDP growth vs. working-age population growth, global analysis, 2020-2030

 

Entitled “Demographic Shifts: The World in 2030,” the report analyzes the seismic shifts in workforces worldwide as 693 million Baby Boomers reach retirement age and 1.3 billion members of Gen Z enter the labor force over the next 10 years.

The report looks at the different approaches to work and lifestyle taken by Baby Boomers, Millennials and Gen Z around the world, and the impact on workplace strategy, sectoral growth and the changing order of the world’s cities over the next decade as one generation exits the workforce and another enters.

“These demographic trends will drive the pace of growth in cities around the world,” said Dr. Dominic Brown, Head of Insight & Analysis, Asia Pacific at Cushman & Wakefield. “Cities will need to establish themselves as ‘places’ to attract the highest quality workers and in turn create the greatest real estate opportunities for occupiers and investors alike.”

Cushman & Wakefield compared labor force growth and GDP growth of more than 137 cities worldwide. Cities with high growth in both categories have the best prospects for strong real estate demand, while slow growth in both categories indicates a lagging market. Cities with faster growth in GDP than in the working-age population are “high productivity” markets that may appeal to investors as they rise up the value proposition. Those with greater growth in labor than GDP are considered “low productivity” markets that need to harness that attraction of talent to boost output. (See table.)

The study concluded that the world’s top-performing cities are located in South East Asia and India, which bodes well for the economic growth and strength of real estate markets in these areas. High productivity cities are located mainly in China. Most cities in Europe and North America ranked as low productivity or lagging markets for economic and real estate growth and their trajectories need to be assessed accordingly. While individual countries and cities have their own demographic trajectories, the differences are more intergenerational than international.

“We were surprised that generational behaviors superseded cultural ones. Gen Y and Gen Z workers, to some extent, have similar workplace preferences no matter where in the world they live, but the two generations also differ in many ways,” said Kevin Thorpe, Chief Economist and Head of Global Research. “For example, workplace strategy will need to account for an ever-increasing array of requirements to meet the needs of tomorrow’s professionals. Understanding these generations’ values, how and where they want to work, and their interpersonal strengths and weaknesses will lay the foundations of securing the best talent available.”

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Cushman & Wakefield Media Contact

Brad Kreiger (image)
Brad Kreiger

Chief Marketing & Communications Officer • Chicago

RECENT INSIGHTS

Tech Cities EMEA
Article • Technology

Regional and Emerging Tech Hubs in EMEA

Beyond the global tech hubs in Western Europe, employers have expanding operations into Central Europe.
Dimitris Vlachopoulos • 8/8/2022
Tech Cities
Article • Workplace

Tech Cities: An Evolution in Talent, Location, and the Workplace

As global tech companies consider locations top tech markets, finding the right place is just the start. From emerging tech to publicly traded, a tech company’s dynamic needs go beyond just location strategy and expand into creation workplace ecosystems that attract, engage and retain talent.
Erica Ruder • 8/8/2022
People Walking - Edge Vol 7
Research • Topical Report

The Edge Magazine | Volume 7

Cushman & Wakefield’s global thought leadership magazine covers the influential trends and ideas impacting the commercial real estate (CRE) industry and more.
5/10/2022

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS