Millennials in Hong Kong are willing to pay about US $12 per month for superfast internet access, according to a new global research report by CommScope.
These users give high priority to internet access/connectivity and would rather give up their own car to drive that to lose connectivity.
Fifty-five percent of Hong Kong Millennials and Baby Boomers who have a smartphone admitted they could not go a day without it. Eighty-two percent agreed reliable internet wherever they are to be important.
Sixty-eight percent of millennials admitted they could not go without connectivity to the internet, compared to six percent who could not go without their cars.
More than three quarters (76 percent) of millennials in Hong Kong and 71 percent baby boomers spend up to two hours a day on video platforms such as Netflix and YouTube.
Globally, over 85 percent of Millennials have smart phones, and more than 77 percent agreed or strongly agreed that they expect to be able to stream video wherever they are.
Half of millennials said they would pay 5 percent of their annual salary for super-fast Internet.
Two-thirds of Millennials, globally, agreed or strongly agreed that social media is their major form of social communication, compared with one-third of Baby Boomers.
Three-quarters of Millennials said they would like to adjust the speed of their Internet services depending on their activities-and pay accordingly.
CommScope advises wireless service providers to continue building out and expanding their networks, while enterprises, retailers, hotels, and other organisations should work with the providers to address their in-building wireless needs.
"Millennials will represent the lion's share of purchasing power in a few years, and since they prioritise devices and access to fast internet, they are expected to continue to put high levels of spend towards connectivity. However, they need to be served differently than previous generations in order to meet their expectations," said Morgan Kurk, chief technology officer, CommScope.
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