Financial Stability and Environmental Sentiment Among Millennials: A Cross-Cultural Analysis of Greece and The Netherlands

Michalis Skordoulis (), Androniki Kavoura (), Angelos-Stavros Stavropoulos, Alexandros Zikas and Petros Kalantonis
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Michalis Skordoulis: Department of Tourism Management, University of West Attica, Egaleo Park Campus, GR-12243 Egaleo, Greece
Androniki Kavoura: Department of Business Administration, University of West Attica, Ancient Olive Grove Campus, GR-12244 Egaleo, Greece
Angelos-Stavros Stavropoulos: Department of Early Childhood Education and Care, University of West Attica, Egaleo Park Campus, GR-12243 Egaleo, Greece
Alexandros Zikas: School of Business, Mediterranean College in Collaboration with University of Derby, 8 Pellinis and 107 Patision, GR-11251 Athens, Greece
Petros Kalantonis: Department of Tourism Management, University of West Attica, Egaleo Park Campus, GR-12243 Egaleo, Greece

IJFS, 2025, vol. 13, issue 2, 1-21

Abstract: In today’s rapidly changing economic landscape, financial stability plays a crucial role in ensuring individual and societal well-being. Millennials encounter unique financial pressures, including shifting labor markets, high housing costs, and economic uncertainty, which may impact their financial stability and broader life choices. This cross-cultural comparative study investigates the interplay between financial stability and environmental sentiment among Greek and Dutch Millennials, exploring how cultural differences influence these dynamics. Utilizing a quantitative research methodology, the study analyzed responses from a convenient sample of 426 participants across Greece and the Netherlands, employing measures such as a multidimensional construct of financial stability and the New Environmental Paradigm (NEP) scale to assess environmental attitudes. The results indicated a significant positive correlation between perceived financial stability and pro-environmental sentiment in both cohorts, suggesting that economic security is a key facilitator of environmental engagement irrespective of cultural context. However, no significant differences were found in environmental sentiment between the two groups, highlighting a possible universal environmental awareness among Millennials transcending economic disparities. These findings suggest that policies aimed at enhancing financial stability may simultaneously foster greater environmental stewardship. The study underscores the importance of integrating economic and environmental policy to promote sustainable development globally among younger populations.

Keywords: financial stability; environmental sentiment; millennials; cross-cultural analysis; sustainable development; NEP scale (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2025
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