30 Figure 4.1 Average Economic Value - Millennials vs. Total Population (USD) 4.1.3 Figure 4.2 and Figure 4.3 show that between now and 2047, millennials will replace Generation X and become the backbone of economic activities. 2047 happens to be the last year of Hong Kong’s current “One Country, Two Systems” scheme. Hence, this report will pay more attention to millennials. Figure 4.2 TSYS Portfolio Profitability Model, 2015 71 4 Youthquake and Quarter-Life Crisis 71 ROLFE Alex, Strategies and insight for banks looking to engage millennials, Mobile Payments World, 2016-07-20, https://www.mobilepaymentsworld.com/strategies-insight-banks-looking-engage-millennials/ 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 First Card Future Profits Peak Profits Legacy Profits Generation X Millennials Data source: TSYS Analytics Baby Boomers In 2015, the profit categories identified in the TSYS model aligned almost perfectly with today's generations: millennials as Future Profits, Generation X as Peak Profits and Boomers as Legacy Profits. 120000 100000 80000 60000 40000 20000 0% Data source: RFi Intelligence Australia Singapore UK US Hong Kong France Taiwan Malaysia Mainland China Mexico India Global average Millennials Total population
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