PH poised to lead Asia’s Gen Alpha boom by 2030

The Philippines is poised to have the region’s largest share of Generation Alpha, the youngest generation that will eventually become a consumer powerhouse, according to a research unit of Fitch Solutions.

In a report released on Wednesday, BMI said Filipino Gen Alphas would make up 27 percent of the country’s total population by 2030, followed by Malaysia and Vietnam with 21 percent.

On the other hand, Japan and South Korea will have the smallest share at 12 percent and 11 percent, respectively, due to having an older demographic and low birth rates.

Gen Alphas are defined as those born between 2010 and 2024 and described by BMI as tech-savvy “digital natives” who are expected to play a larger role in consumer spending.

Across the region’s three largest consumer markets, Gen Alphas will account for around 23 percent of the population in both India and Indonesia, followed by Mainland China at 16 percent.

Birth rates

Currently, there are roughly two billion Gen Alphas, or almost a quarter of the world’s population.

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Asia is expected to account for nearly half of the global Gen Alpha cluster, with about 935.7 million in the region by 2030. This translates to 11 percent of the total global population.

However, by 2050, this number is expected to fall slightly to 912.2 million due to the declining birth rates and shrinking family sizes in Mainland China and South Korea.