Youth optimistic about Asean 4.0
advanced robotics and self-driving vehicles will bring significant disruption to the job market,” said Justin Wood, the head of Asia Pacific and a member of the Executive Committee at the World Economic Forum. “No one knows yet what impact these technologies will have on jobs and salaries. Globally there is concern that technological change may bring rising However, many working for SMEs said that they would like to work for a different organization. Today, 17 per cent work in an SME, but only seven per cent said that they would like to work in an SME in the future. In contrast, the results show a strong preference to work for foreign multinational companies (10 per cent work for one today, but 17 per cent want to work for one in future) and for governments (13 per cent today compared to 16 per cent in future).
These results suggest a preference for income stability, given the more unpredictable nature of employment in small organizations versus large ones. But there are nonetheless some countries that show a rising appetite for entrepreneurialism and the associated risk-taking it involves. In Thailand, for example, 26 per cent of young people work for themselves today, but 36 per cent said they would like to in future. In Vietnam, 19 per cent work for themselves today, com- pared to 25 per cent that say they want to be self-employed in future.
Group chief economist at Sea Santitarn Sathirathai said: “It is encouraging to see such strong entrepreneurial drive among Asean’s young population, with one-quarter of respondents wanting to start their own business. However, the findings also suggest that SMEs may struggle for talent in the future, with a smaller share of the region’s youth willing to work for SMEs.
Looking ahead, it will be important to continue to enhance SME adoption of digital technologies to ensure young entrepreneurs and small businesses have the resources they need to succeed.”
The survey also reveals that, across Asean, the youth spend an average of six hours and four minutes online every day, with 61 per cent of that time spent on leisure, and 39 per cent spent on work activities. Among the countries surveyed, the youth of Thailand spend the most time online – an average of seven hours and six minutes. The youth of Vietnam spend the least time online – an average of five hours and 10 minutes.