“Lifestyle preferences and financial needs differ across generations,” said Brian Hui, head of customer propositions and marketing of wealth and personal banking at HSBC Hong Kong. “Nearly half of our Gen Z respondents prioritise saving for short-term goals, often linked to enjoying life.”
The survey showed that 71 per cent of Gen Z members said travel was their main motivation for working – surpassing home ownership and starting a family – as some respondents said “purchasing property feels far-fetched for them, indicating a preference for work that brings personal enjoyment, particularly through travel”.
Over the past year, these respondents said they travelled an average of three times, spending around HK$35,000 (US$4,504), or about 13 per cent of their income.
Also, Gen Z members spend nearly 10 per cent more on entertainment than other generations. But they also save more: HK$6,014 each month, or 28 per cent of their income, the highest among all generations, the survey revealed.
