Europe’s wealth gap: Older households eight times richer than young ones

Student protests that began in September in France have spread to more than 11 European countries as anger rises over high rents and fuel prices and cuts to public services.

Many young protesters said they no longer expect to be better off than their parents, and household wealth data show a wide gap between generations.
Across the eurozone and two other European countries, households headed by someone under 35 have a median net wealth of about 25,000 euros ($27,870) while those headed by 55- to 64-year-olds are worth about 208,000 euros ($231,882), more than eight times as much, according to the European Central Bank’s (ECB’s) 2023 Household Finance and Consumption Survey.

In this visual explainer, Al Jazeera compares wealth by age groups across 22 European countries and looks at how much more expensive life has become since 2000.

Where is the wealth gap widest?
The Household Finance and Consumption Survey, run by the ECB and national central banks since 2010, tracks household wealth and debt in the eurozone, the Czech Republic and Hungary.

It measures net wealth, which includes property, cars, valuables and savings, minus debts. Under-35s hold just 2.8 percent of all household wealth in the 22 countries while 55- to 64-year-olds hold the largest share at 24 percent.

In Finland, under-35s hold 0.8 percent of household wealth, the lowest share of any country surveyed, while over-55s hold more than 71 percent. Young people’s shares are also small in Ireland (1.4 percent), Austria (1.6 percent), Greece (1.8 percent) and Germany (2 percent).