Europe – Millennials Leaving Home Ever Later

European millennials (those born between 1982 and 2000) have a knack for staying at home longer than ever before leaving the nest, statistics are showing.

Although in southern Europe (Spain, Greece, Italy) it has always been the case that houses are divided amongst generations and most youngsters stayed at home until they got married, by now that trend has only grown greater.

In fact, the further south you go in Europe, the longer kids stay with mommy and daddy.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">&quot;Financial Planning Matters To All&quot; ~ <a href="https://t.co/aXKYC99ept">https://t.co/aXKYC99ept</a> <a href="https://twitter.com/hashtag/europe?src=hash&amp;ref_src=twsrc%5Etfw">#europe</a></p>&mdash; Riopel.NYCAREnews (@AccTaxDotCom) <a href="https://twitter.com/AccTaxDotCom/status/996606959771058176?ref_src=twsrc%5Etfw">May 16, 2018</a></blockquote>

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The last to leave home, upon average around the age of 30-32, are men in Malta, Croatia, Slovakia, Italy, Greece, Spain and Portugal. Those who leave earliest, around the age of 20-25 are situated in Belgium, the Netherlands, Germany and Finland.

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Furthermore, the lower economic output in the former Soviet Union states like Hungary and Poland means that over there the age of leaving the nest is going up as well, from 23-24 a decade ago until 28-29 by now.

<blockquote class="twitter-tweet" data-lang="en"><p lang="de" dir="ltr">Nestlé Falls Behind As Millennials Warm Up To Frozen Meals <a href="https://t.co/oz7HaBhhwY">https://t.co/oz7HaBhhwY</a> <a href="https://twitter.com/hashtag/Nestle?src=hash&amp;ref_src=twsrc%5Etfw">#Nestle</a> <a href="https://twitter.com/hashtag/Millennials?src=hash&amp;ref_src=twsrc%5Etfw">#Millennials</a> <a href="https://twitter.com/hashtag/Frozen?src=hash&amp;ref_src=twsrc%5Etfw">#Frozen</a> <a href="https://twitter.com/hashtag/Meals?src=hash&amp;ref_src=twsrc%5Etfw">#Meals</a> <a href="https://twitter.com/ElmaEurope?ref_src=twsrc%5Etfw">@ElmaEurope</a></p>&mdash; ELMA (@ElmaEurope) <a href="https://twitter.com/ElmaEurope/status/995967040589529088?ref_src=twsrc%5Etfw">May 14, 2018</a></blockquote>

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This, of course, says a lot about the current state of finances (what are they spending money on, what are they saving for) and how it is perceived by millennials. It is clear the European millennial understands spending and saving different from previous generations.

These figures are important to note for employers as it is estimated that by 2025, millennials will make up 75% of the European workforce and employers want to know how to prepare for them.

Source:

http://www.euronews.com/2018/05/16/the-long-goodbye-how-southern-europeans-are-leaving-home-even-later-than-before