The Great Australian Dream slipping further out of reach as cost-of-living lingers
Australians are redefining what success means to them as the former version of The Great Australian Dream slips further out of reach, according to this year’s The Australia Project study from The Lab.
Titled ‘Slower, Surer, Stronger’ , the report takes the “perspectives of over 2000 everyday Australians” and highlights the cultural narratives emerging.
“The immediate post-Covid rose tinted hope that a reset was on the cards has worn off,” the report reads, “and the pace status we were feeling four years ago is back. In a big way. And yet, the benefits aren’t there.”
61% of those surveyed agree the pace of life is “unrelenting”, while 51% believe “the Australian Dream is achievable for people like me.”
The report summarises: “One of the key lessons learned through pandemic living has remained: the focus on maintaining our health and wellbeing.
“In addition to financial goals, top priorities for Australians are to enjoy our lives and to maintain the balance across our total sense of wellbeing. It begs the question of what we are racing around for? And we are reconsidering what the point of pushing is, if it doesn’t serve us or our wellbeing. This comes to a head with Australians changing their definition of success.”
The Lab highlights what they dub ‘The Great Slowdown’ where more of a focus is placed on wellbeing and personal goals.
According to the research, 61% of Australians think “we need to resist the pressure of ‘hustle culture’ in favour of leisure time”, while 56% are “actively trying to set boundaries to prevent burnout.”
The Lab highlights the ascension of ‘Comfort’ from 23rd to ninth place as the most notable shift in the values index.
“Comfort is joined by the inclusion of confidence in a pairing that emphasises the focus on being content,” the report notes.
Research by The Lab conducted at the start of 2023 identified a trend they called ‘The Pleasure of Leisure’.
“After another heavy year, people wanted to lean out of ‘more’ and spend more time doing what they love. Aussies were looking to reclaim pleasure and indulge personal interests.”
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