Social Media has become a prime enabler for Europe’s youth to drive forward its digital economy

PRESS RELEASE

 

Social Media has become a prime enabler for Europe’s youth to drive forward its digital economy

  • Largest ever study of how European youth across 15 countries use Social Media for professional purposes shows a dramatic positive impact on jobs, skills and economic growth
  • A new 'Generation Direct': Europe’s young entrepreneurs, students and young professionals are bypassing traditional channels and going direct to markets, customers, educators, investors and their own governments through Social Media
  • Part of TCS’ ongoing effort to bring the voice of Europe’s 90 million youth to boardrooms and government institutions   
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BRUSSELS | MUMBAI, June 23, 2016: Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, has today released the largest ever Social Media survey of the European Youth. The report was launched at its European Union reception in Brussels with the presence of Yves Leterme, Former Prime Minister, Belgium, N. Chandrasekaran, CEO and MD, TCS, and 150 business leaders, Members of European parliament and representatives of the European Commission.The research surveyed a representative sample of more than 5,000 Europeans aged 18-29 from across 15 different countries, concluding that Social Media is playing an instrumental role in helping young people find jobs, upgrade their skills and create economic growth as entrepreneurs. The full report can be downloaded at tcs.com/generationdirect.

Titled Social Media is Now Serious Business for Young Europeans, the report finds that for the generation of young Europeans that have grown up immersed in digital technology, social media is far more than just a source of entertainment. By democratizing the way in which we communicate, discover information and share ideas, social media has helped to shape and empower this generation of young people, creating a new breed of employees and citizens across Europe: Generation Direct.

This generation is bypassing traditional channels and using social media very proactively to search for jobs, upgrade their skills, seek funding for their enterprises, create growth for their businesses or lobby their governments for change. The study found that social media has helped:

  • 46% of young people to find jobs
  • 7 out of 10 young entrepreneurs to find investors
  • 88% of students to connect with their peers to discuss courseware
  • 50% young people to campaign for change through online petitions

These trends are helping drive Europe’s digital economy forward. The European Commission measures the progress of the region’s digital economy through a composite index called DESI (Digital Economy & Society Index) which is built on 5 pillars: Connectivity, Human Capital, Use of the Internet, Integration of Digital Technology and Digital Public Services. The European Union’s score (EU28) has increased from 0.46 in 2014 to 0.52 in 2016 on this index, led by increased digitization of businesses and online commerce.

N Chandrasekaran, CEO and MD, TCS said, “Through this survey we are looking to ensure that the voice of Europe’s young people is being heard by the European decision-makers who affect them – be it business boardrooms, parliaments or academic committees. The survey concludes quite compellingly that Social Media is playing a crucial enablement role in strengthening the careers of Europe’s 90 million young people and helping drive its economy. Europe’s political and business leaders must take all steps to ensure that they embrace digital technologies to better engage with and enable their youth. The entrepreneurial energy of this generation has a huge potential economic upside for employers, businesses and governments; if they are willing to embrace it.”

Reacting to the views of the youth, several political, business, association and academic leaders have also shared their perspectives in this study, including the Deputy Prime Minister of Belgium and leading Members of European Parliament (MEPs) including Eva Paunova, Ilhan Kyuchyuk and Martina Dlabajová.

About the research
The research is based on a representative sample of more than 5,000 Europeans aged 18-29 from across 15 different countries were surveyed. To find out more about the research, or to download the full report, please visit: tcs.com/generationdirect.

About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT servicesconsulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of ITBPS,infrastructureengineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 353,000 of the world’s best-trained consultants in 45 countries. The company generated consolidated revenues of US $16.5 billion for year ended March 31, 2016 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

To stay up-to-date on TCS news in Europe, follow @TCS_Europe. For TCS global news, follow @TCS_News.

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