THE KENYAN YOUTH



When people look to identify the most prominent obstacles to economic growth, the levels of consumer and debt are often high on any list. The current economic circumstances of Kenya provides a case in point, as it is the country  where debt and mortgage liability are a key factors behind diminished consumer spending within society especially with the young professions .
Unemployment leads to the diminishing spending patrten especially among Kenyans aged 18 to 29. The rate of joblessness within this social group is up which is well above the national rate. This has forced many to reduce their weekly budgets and the amount that they spend on entertainment, food and transport.
As young adults are undoubtedly spending less in the current economic climate, it is fair to say that they also have different spending priorities compared to previous generations. The pronounced decline of the Kenyan economy provides some insight into this. Young Kenyans are more likely to purchase vehicle than they have been doing in the past, and the number of young people with driving licenses has increased significantly over the last few years.

Technological purchases have emerged as far greater priorities among modern consumers, and this shift can be attributed to both cultural and economic factors. While it is obvious that there is a significant financial difference between purchasing a Kshs 1,020,000 Kia and a Kshs 170,000 Mac book Pro laptop, the multi-purpose nature of devices such as personal computers and smart phones also ensures that they offer far greater value for the consumer's money. In fact, these products are now central to the everyday function of young adults. Cars have been viewed by others as an optional and often
un-affordable luxury.




The changing cultural and economic landscape also offers considerable insight into the increasing housing market. The level of ownership among some continues to fall. Between 1980 and 2000, they not many young Kenyans under 30yeaars old knew the worth of owning property, and with time this has changed. Currently the trend has changed from old people owning property to very young people purchasing land as early as 24 and 25years old.
In addition to the levels of students, young professions debt and an unstable job market, it is fair to say that the increase in home and property ownership among the youth has also coincided with falling marriage rates.


As much as the current economic climate is impacting consumer spending in the Kenya, it is clear that cultural changes and a significant shift in the priorities of young adults are equally influential. Kenyan youth have a different set of values and beliefs than their elders. Property, Home and auto ownership are prioritized by young professions. One day they will lose their importance as they once did. A negative perception of the economy is also discouraging young-people from making long-term future plans.

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