As human, our lifestyle tends to change from time to time.
There are many things contributing to trends in lifestyle, however key factors like the economy or natural factors such as seasonal weather condition, natural events like natural disasters are not controllable by us as human.
We are going to leave out the natural sides to the nature itself and pay some attention to how the economy especially this year 2015 is going to affect our lives, which in turn shape up some trends in our general lifestyle. Let’s start by looking at how our Australian economy is going to perform this year by first looking at the interest rate cut trend that has been happening all over other countries and a few other key factors that is driving the global economy such as the oil price and its effect on our economy in Australia.

2015 Australian Economy Outlook

Just a few days ago, precisely on the 3rd February 2015, the Australian Reserve Bank just officially announced a further 0.25 percent interest rate cut which makes it a new 60 year low record, falling to only 2.25 percent after the cut. And the country’s economy experts forecast that there will be a one or two more cuts if economy continues to weaken this year. The interest rate cut effects is evident in the value of the Australian dollar against the U.S. dollar, US$1 trading at AU$1.28ish as this article is written.

2015 Oil Price Slump and Global Economy

We are one of the biggest resource exporters in the world, and the good thing is we are not major oil producer and exporter like the middle eastern countries who are making huge loss due to the current oil price as this article is written has slumped to its record low US$45ish per barrel.
This oil plummeting trend will continue as oversupply furthers in the global market, and to make things worse, there seems to be no signs of stopping of the oil production especially in those middle east countries.
As one of the largest mineral resource exporters, for the next few years we may not see some huge mining booms, resource sector driving our economy like we had before. However, with the current oil price plummeting, Australia together with our major trading partners like China, US, India, Japan and some south eastern countries, we are certainly going to benefit from that lower oil prices as well. In fact, according to Bloomberg Global Poll, the plummeting price of oil and surging U.S. dollar means increasing growth throughout the world.
Advantages for Australia:
  • Lower Aussie dollar which in turn increase demand for our exports
  • Lower inflation rate, lower interest rates
  • Improved consumer confidence and buying power
  • Better pay and more jobs available for grabs

2015 Lifestyle Change and Trends

Australia today is loved for more than just the outback, the beautiful beaches, the iconic kangaroos and koalas, sporting success and you know the “no worries” attitude. However with the current economy and the effects it brings to our lives, there is certainly some sort of ‘change’ in our lifestyle, the way we dress, the way we spend our money, how we entertain ourselves and so forth.

With the current economic outlook throughout 2015 in Australia, since we are going to see more buying power and increase in consumer confidence, that will generally mean we have more money left in the pocket, we can spend it, buy new clothing, new furniture, new gadget, go see movies, dine at restaurants more frequently, and perhaps new car or if you have family, you can move to a bigger house or for the home first buyer can afford to buy a property the list just goes on and on when the economy is going well.

More Growth of Australia’s Population

Let’s take a quick flash back to 2000, during that time Australia had a population of 19 million and the population growth rate was slowing down at around 1%. However over the last decade it has defied the predictions and rather than slowing, the population increase has returned back and accelerated again, finishing the decade breaking 22 million with a population growth rate twice than expected. And that population growth rate apparently hit the 2% mark per year. Hence with that rate of growth, we should be seeing Australia’s population hit the 27 – 28 million mark.The highest actual ever birth numbers, plus the lowest ever death rate, and record net migration from overseas have combined to boost the perfect giant waves of population growth over the past recent years.

More Australians Love The Outdoor Lifestyle

Australians have always loved the outdoor lifestyle, and more Australians too will be more keen to living under the beautiful sunshine. This in turn play some part in setting the trend for consumer related industry like fashion , be it winter or summer fashion, outdoor BBQs, and any other outdoor related outfit will not change that much. For instance, during summer we should be seeing more colorful, more relaxed outfit, clothings with thinner materials for comfort and casual type of wear. If the weather turns out nice, we should be seeing more surfers at the beach and beach goers having some sun bathing on the beach.

More Social Media and Technology Conscious

Other trend in lifestyle is that now everyone can afford at least one or two new gadget. So there is no doubt we shall be seeing more kids, more adults even grandpa’s and grandma’s fiddling with some gadgets in their hand while doing something else at home or at cafe or anywhere else. People will use the social media more often, take pictures, do heaps of selfies and post them up on their social media website. By the way due to that technology driven lifestyle there will be great demand of eye care experts and products. The reason is increasing rate of eye care problems.

More Jobs Available and Change Of Jobs

While the last decade saw the growth of portfolio careers, work-life balance, and “sea-change” lifestyle jobs, this new decade is bringing back some new stability. With the ageing population will come an ageing workforce, mass retirements, a skills shortage, and a succession planning challenge. Over the next decade 40% of today’s senior leaders will reach retirement age. Already the average age of an employed person in the education sector is 44, and in the health sector it is 45. Therefore there will be a premium paid to employees who can gain experience in a career, climb the ranks within an organisation, and move into leadership positions. While flexibility, job variety, collaborative leadership models, and work-life balance will remain part of employment, there will be a return to training, skills development, longer job tenure and stability.

It is certainly interesting to see where and how the global economy, especially the oil price slump, the trend in interest rate cuts across the countries in the world are driving our domestic economy which in turn drives some change in our Ozzie lifestyle.