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Gen Z’s surging economic power will permanently change the investing landscape over the next decade, Bank of America says

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  • Generation Z’s economic power is the fastest-growing around the world, and investors should start preparing for tectonic shifts in consumer preferences, Bank of America strategists said Thursday.
  • Gen Z’s earnings are set to hit $33 trillion by 2030 and account for more than a quarter of all global income. By 2031, the youngest generation will surpass Millennials’ spending power.
  • Sustainable luxury, e-commerce, new media, and online payment businesses are set to benefit from Gen Z’s ascendance.
  • The tobacco, meat, and travel industries will face new pressures as the group turns away from more traditional goods.
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