TransUnion report reveals Millennials are Hardest Hit as COVID-19 Impacts Consumer Finances Around the World

TransUnion has studied the financial impact of COVID-19 across five continents to provide a global view of the economic hardship being endured by consumers.

The COVID-19 pandemic is causing similar financial challenges for consumers around the world, but new research indicates that Millennials are being challenged the most. A just-released
TransUnion global report including seven regions on five continents found that 84% of South African Millennials indicated their household incomes have been negatively impacted by the pandemic, compared to the global average of 76%. This compares to 79% for all other generations in South Africa (64% globally).

This report aims to provide an important understanding at this crucial stage of the pandemic.