An emerging socio-demographic group is on course to become the most affluent generation by 2035, according to a new study by Bank of America’s research arm.
Bank of America Global Research says that Generation Z (those born roughly between 1997 to 2012) will become the “largest and richest generation by approximately 2035.” A large part of the growth in wealth will occur over the coming years. Between 2023 and 2040, Gen Z’s wealth is projected to skyrocket by around 720%, according to Bank of America.
“It looks like Generation Z (Gen Z) is on the cusp of making its mark on the global economy. Not only is this group expected to be the largest cohort of the global population over the next 10 years at
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