London top city for Gen Z despite Brexit and high costs
The first wave of Generation Z enter the workforce this year, bringing with them a unique set of needs, report says.
As Brexit blankets the future of many areas of UK life in uncertainty, it appears to be doing little to dampen London’s appeal.
A new study ranks the UK‘s capital as the number one city for members of so-called “Generation Z”, a group defined by Pew Research Center as those born between 1997 and 2012.
The first wave of these Gen Z-ers will be graduating and entering the workforce this year, bringing with them a unique set of needs, expectations and skills.
The report, released on Wednesday by housing platform Nestpick.com, ranked cities’ recognition of and preparedness for Gen Z-ers against 22 factors ranging from privacy and security to access to mental health services.
Affordability, gender equality and the right to protest were also considered among the factors, which were divided into four categories: digital, principles, leisure and business.
Despite concerns around Brexit and the high cost of living, London came out top, thanks primarily to its commitment to social entrepreneurship, educational opportunities and high levels of government digitisation.
“Adding on to the advantage of a weakening pound, London has shown how it is at the forefront of digitalisation, advocacy, entertainment, and business. Brexit or not, London has the foundations to continue magnetising Generation Z in the long-term,” Omer Kucukdere, founder and CEO of Nestpick said in a press release.
The study looked at 110 cities worldwide, finding Europe and North America tied as the most attractive continents, with five cities each in the top 10 ranking.
Fourteen of the 20 most appealing cities were also among the 50 least affordable cities in the report. The six that ranked highly for both appeal and affordability were Berlin, Manchester, Montreal, Gothenbrug, Frankfurt and Malmo.
Chinese metropolises Shanghai and Beijing scored lowest in privacy and security, followed by Muscat, Oman, and Jakarta, Indonesia.
Gulf capitals Dubai, Manama and Doha have the highest percentage of foreign-born residents, while Nordic cities were found to have the most gender-equal societies.