Millennials’ growing spending as they come into their peak earning years, water rights and food security are some megatrends with the potential to supercharge investment returns.
Global tectonic forces at play are disrupting old business models and creating new industries. Investors who do not embrace them risk getting left behind.
While many of the megatrends are well known and have resulted in some impressive sharemarket gains for the companies involved, there are others that have a long way run and offer plenty of upside potential.The shift from Baby Boomers to Millennials as a prominent spending force will likely drive more innovation and transform business models, say economists at Singapore-based United Overseas Bank.
Cybersecurity is one of the megatrends identified by the CSIRO. There is a reported cyberattack every 8 minutes in Australia.Millennials also value experiences over material goods and are more likely to spend on entertainment, travel and dining than earlier generations.
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