Survey Shows Most 18-24 Year Olds Worry More About Money Than Love and Romance, Young Canadians Saying Cash is Top Concern

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Leading global research firm Synovate has released the findings from its 2008 'Young Adults Revealed' study conducted with over 12,600 young people ages 18-24 across 26 countries, including Canada. The survey was conducted to find the truth behind some popular misconceptions surrounding young people as well as their attitudes towards relationships, finances, media, telecom, the environment and brands.

They are very aware of the lifestyle they want. They have a different work ethic though. They'll work hard, put their time in and they'll multi-task and be very creative with the goal of learning and promoting themselves, but isn't likely going to be for 50 - 60 hours a week. Most youth want more of a work / play balance.

Leading global research firm Synovate has released the findings from its 2008 'Young Adults Revealed' study conducted with over 12,600 young people ages 18-24 across 26 countries, including Canada. The survey was conducted to find the truth behind some popular misconceptions surrounding young people as well as their attitudes towards relationships, finances, media, telecom, the environment and brands.

The findings show that 18-24 year olds, in Canada and globally, are craving security more than anything. And, with 40% of young Canadians living with their parents, and 49% of young adults globally, family seems to be one of the most important aspects of their lives. In fact, 67% of Canadian respondents stated that family is 'very important' and 76% globally said the same. Friends were rated as 'very important' by only 61% of young adults in Canada and globally.

This need for security is evident on both the career and personal fronts. While many people would assume that young adults dream of working in the media, film, music or marketing the study shows that's not necessarily the case. With the disappearance of the 'job for life' these industries are viewed as being too risky. The majority of young adults surveyed in Canada say they'd rather work in Teaching, IT/software development, Engineering and Accounting. These industries may not seem as sexy but are viewed as a lot safer - showing that security matters a lot to them.

"It is not surprising that this group is demonstrating the need for security. They are growing up in very complex times with daily messages about terrorism, global warming, jobs being cut, recession on the horizon and the reality that the boomer generation could cost them significantly in health and retirement. Not to mention that all of this information is immediately accessible through today's communication technology," said Rob Myers, Managing Director of Synovate Canada.

The findings also show that 18-24 year olds are more pragmatic than we give them credit for. When asked about their biggest concerns, respondents globally chose 'getting a good career' (46%) and 'getting a good education' (45%) as very important - this was similar in Canada at 46% and 40% respectively. These factors were chosen above items such as 'love and romance'.

Youth/Generation Y expert Dr. Karyn Gordon, commenting on Canadian young adults, said, "They are very aware of the lifestyle they want. They have a different work ethic though. They'll work hard, put their time in and they'll multi-task and be very creative with the goal of learning and promoting themselves, but isn't likely going to be for 50 - 60 hours a week. Most youth want more of a work / play balance."

Interestingly, the findings reveal that young adults do not 'love' technology as much as we may think. They do love communication and entertainment though - which, of course, technology facilitates.

Eighty percent of young Canadians own a mobile phone, 76% own a personal computer and 56% own a laptop. They tend to enjoy socializing and play online more than actual work which correlates to the fact that they love to communicate and be entertained. The majority of young adults spend between 6-20 hours online per week socializing, social networking, gaming and emailing - young males are more likely than females to be online for more than 16 hours per week. Surprisingly, the PC (with internet access) is by far the media device that 18-24s say they can not live without. Fifty-seven percent of Canadians interviewed chose the PC over a mobile phone (12%) and television (12%). "The PC is the central hub for everything - communication, entertainment and information. While advancements in mobile technology - like 3G, better interfaces and such - may change this, very few young adults are currently using their mobile devices in all of these areas," commented Myers.

About 'Young Adults Revealed'
The Synovate 'Young Adults Revealed' survey is a global syndicated study conducted by Synovate's youth research team OnePointNine. The study interviewed 12,600 respondents, between the ages 18-24, including almost 1,000 in the US, and across 26 countries including Canada, the USA, UK, France, Germany, Russia, Norway, Sweden and Japan. The survey, conducted during the first half of 2008, covered topics including Technology, Communication, Media, Socializing, Entertainment, Environmental Attitudes, Grooming and Cool Brands. It was previously conducted in 2006 covering 14 European markets. For more information, visit http://www.synovate.com/whatwedo/life-stage-lifestyle-life-trends/young-adults-revealed.jspx.

About Synovate
Synovate, the market research arm of Aegis Group plc, generates consumer insights that drive competitive marketing solutions. The network provides clients with cohesive global support and a comprehensive suite of research solutions. Synovate employs over 6,000 people across 62 countries. More information on Synovate can be found at http://www.synovate.com.

For more information on Synovate visit http://www.synovate.com.

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Henrietta Sung
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