British parents over 50 whose children have left home have "never had it so good," says a new report from market analyst Datamonitor.
The bounce-back as families recover from the enormous costs of raising children means that Britain's over-50s have the highest disposable income in Europe.
|
'Empty Nesters' spending power (Disposable income per head) |
|
UK |
£13,673 |
|
Netherlands |
£13,165 |
|
Germany |
£12,942 |
|
France |
£11,808 |
|
Italy |
£9,465 |
|
Source: Datamonitor |
|
Analysts at Datamonitor say the post-war baby boom generation has reaped the rewards of better job prospects, having their families early, and high house prices. Many Britons have owned their homes for over 30 years, benefiting from house price increases.
Andrew Russell, the report's author, told BBC News Online, "Generally, the boomers are better paid than previous generations and have had their families early"
"Their children have now left home early, relieving them of a huge expense," Mr Russell added.
And ‘empty nesters’ are rewarding themselves by spending on luxury goods, turning them into a powerful consumer force, the analysts say.
In 2003, empty nesters spent £38.4 billion on consumer goods, but this is set to soar to £46 billion by 2008 according to the report. By then, there will be 8.5 million early empty nesters in the UK.
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