Income, location and social network are just some of the factors that contribute to our quality of life in Australia, and indeed help Australians live a happy life. While Australian’s believe Australia still offers a great quality of life (56%), even if you don’t have a lot of money, income is a significant predictor of happiness living for Australian’s. Almost all Australians (97%) believe income makes a difference to living a happy life and almost half (49%) consider it to have a big difference.
Location is another key factor, with a similar proportion believing where a person lives (93%) affects their ability to live a happy life. Equally, Australians believe work ethic makes some sort of difference to the opportunity Australians have to live a happy life (93%).
Younger generations are looking beyond money for happiness
Younger generations are likely to consider work ethic, who they know and their level of education key factors that determine their ability to in live a happy life. In fact, who they know is steadily increasing as a determining factor in Australian’s ability to live a happy life (76% Gen Z, 71% Gen Y, 66% Gen X, 59% Baby Boomers, 56% Builders). With one in two Gen Z’s predicted to have a university degree1 by 2031 and Gen Z’s comprising 31% of the workforce6, they need to stand out. Factors such as work ethic and networking may be of greater importance than those considered necessary in the past.
1 Generation Z Commence University: Finding the right course, McCrindle blog, 2014
The future is looking up
Most Australians are optimistic about where Australia will be in three years’ time. Positively, Australians are three times as likely to be strongly/somewhat optimistic (39%) than strongly/somewhat pessimistic about where Australia will be in three years (12%).
“Amidst so much uncertainty and social change, it is encouraging to see that Australians are three times as likely to be decidedly optimistic as pessimistic about where our nation will be in three years’ time.” – Mark McCrindle