This March 2026 briefing from the Asia Business Council examines how Gen Z and Millennial consumers are reshaping demand across Asia and beyond. Written by Berenice Voets, Sally Ho and Janet Pau, the 21-page document combines Brookings, World Data Lab and Mastercard figures with the Council’s own calculations.
Its central argument is that Asia’s growing middle class is becoming the main engine of global demand, with Gen Z on track to be the region’s highest-spending generation by 2033. The briefing covers identity-driven and experience-led spending, the influence of Asian youth culture on global trends, and the financial uncertainty that makes demand volatile. It is useful for brand, product and strategy leaders who need to rethink value propositions and forecasts for younger buyers.
What’s inside:
- Asia’s rising middle class and where new consumer spending will come from
- How Asian Gen Z shapes global trends and brands online
- Why Asian brands are gaining ground on Western incumbents
- Financial fragility, gig work and sudden splurges among young consumers
Report details
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