Belgians save less household income than most Europeans
Belgian families are saving significantly less than their European neighbours, new figures show. According to De Tijd and L'Echo, citing data from the National Bank of Belgium and Eurostat, no other European country saw such a sharp drop in savings at the end of 2024.
Across Europe, households generally managed to save more. The average savings rate rose from 13.3 per cent in 2023 to 14.5 per cent in 2024. In contrast, Belgian families saved less, setting aside just 13 per cent of their income last year, a drop from 14.1 per cent the year before.
The decline was even steeper towards the end of the year. In the last quarter of 2024, Belgian households saved only 11 per cent of their gross disposable income, the lowest level since mid-2018. Compared to the previous quarter, the savings rate fell by more than two percentage points, resulting in the most significant drop seen anywhere in Europe.
Savings by region
Regionally, the picture varies. Flemish households are saving more than the European average. However, savings rates are much lower in Wallonia and especially in Brussels. The most recent regional data from 2022 show that families in Brussels saved only 2.6 per cent of their income, compared to 8.7 per cent in Wallonia and 16.7 per cent in Flanders.
© PHOTO BELPRESS
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