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SINGAPORE: They are young, they are rich and they celebrate the changes in Singapore society.
For these Singaporeans in their late 20s and early 30s who earn an average of more than $75,000 a year, the convergence of cultures and growing diversity in Singapore has led to a wider range of professional and lifestyle experiences.
And foreigners are to be embraced for the new ideas they help Singapore come up with.
This is one of the key findings in a study of the attitudes and spending trends among young and affluent consumers.
And according to American Express (Amex), which commissioned the qualitative survey, one of the implications is that this group have come to expect "world-class" standards as they seek a global experience.
"Because they are so comfortable online, even the way brands, products and services are promoted must seen to be of the same calibre as 'global competitors' to gain their attention and respect," said the report titled "Everything is possible: Lifestyle expectations of the young affluent in Singapore".
But for this "first online generation", it is still a key priority to spend time with friends, face-to-face, according to the study conducted by marketing research company Synovate.
"I go to the gym with my friends. I get bored when I go alone, plus it's one more activity my friends and I do together that is bonding for us," the report quoted one respondent as saying.
Dr Koh Choong Hou, 28, a doctor in the civil service, shared some of the sentiments expressed in the survey, which was conducted between October and December last year via group sessions and individual interviews involving between 36 and 64 affluent youth consumers.
"Just like other cosmopolitan societies, for instance, London and New York, where there is no closed-door policy, Singapore cannot be inward-looking as well," he said about welcoming the world into Singapore.
The study also said that the young affluent see themselves as "world citizens" with the world as their playground, where international experience builds social currency. They are also confident in themselves and the future and want to have "more now" to fulfil their lifestyle aspirations.
The report described them as "experience hoppers", whose "mood of the moment" determines their lifestyle choices from nightclubs and health clubs to restaurants and shopping.
- TODAY/so
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