VANCOUVER, British Columbia, May 6, 2021 /PRNewswire-PRWeb/ -- Visual Capitalist has today launched the Generational Power Report, revealing the results of the inaugural edition of the Generational Power Index (GPI) which ranks generations on how much power and influence they have over American society.
The index is measured across three key pillars—Economic, Political, and Cultural Power—which are combined to create our flagship metric: Overall Power.
ECONOMIC POWER
Baby Boomers hold the dominant share of Economic Power (43.4%). But, this trend faces a tipping point. As the parents of Millennials, they're set to trigger the biggest wealth transfer in modern times—handing over $68 trillion by 2030.
POLITICAL POWER
Baby Boomers hold almost half (47.4%) of Political Power overall. Baby Boomers are still the clear leaders in the political arena, but power dynamics are beginning to shift. Millennial and Gen Z's combined voting power will skyrocket from 32% in 2020 up to 55% by 2036.
CULTURAL POWER
Gen X ranks #1 in Cultural Power, with a 36.0% share. While older generations dominate traditional media, Millennials and Gen Zers capture a majority of power in the digital realm. This shift from conventional to novel media channels will have far-reaching consequences on how cultural narratives are determined.
In aggregate, the findings reveal that Baby Boomers are currently the most powerful generation, with a 38.6% share of Overall Power. Society has been shaped by the values and priorities of Baby Boomers for decades, but as Boomers retire and leave key positions of power, this landscape of generational power will shift.
The GPI serves as a powerful data-driven tool that provides insight into intergenerational power dynamics, and how they evolve over time.
Jeff Desjardins, Founder and Editor-in-chief at Visual Capitalist, comments: "The Generational Power Index is the first of its kind, offering insight on where age groups rank in different areas of society, and how that pecking order is changing.
The annual report and index will contextualize global events, intergenerational relationships, wealth transfers, political movements and more. We hope our findings help set a useful context for every new Gen Z TikTok influencer, the election of the first Gen X President of the United States, or every new Millennial billionaire that emerges."
The full report and further information can be found here. Click here to access the GPI media pack.
NOTES TO EDITORS
METHODOLOGY
To build the generational power breakdown for each of the three variables (economic, political, cultural), our team collected the latest available data during March-April 2021. All of the data we gathered is from publicly available sources, such as government websites and industry rankings. Geographically, our data is primarily U.S. based.
A number of equally-weighted variables feed into the three categories of cultural, political, and economic power.
Further details on the methodology can be found in the full report.
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SOURCE Visual Capitalist
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