Socio-Demographic Profile of the Debt Holders of Older Populations in East and West European Regions
Abstract
Research background
Household indebtedness has grown across Europe since the 2007–2008 financial crisis. Among adults aged 50 and over, consumer debt intersects with pension income, health, and housing wealth differently than for younger borrowers, yet comparative socio-demographic evidence across European regions remains scarce.
Purpose
This study examines the socio-demographic profile of debt holders among older populations of East and West European regions, identifying factors that influence household debt decisions in these historically distinct contexts.
Research methodology
Using data from the 7th wave of the Survey of Health, Ageing and Retirement in Europe (SHARE), logistic regression models are estimated for both regions, covering age, gender, marital status, household size, education, economic activity, homeownership, net wealth, and risk aversion.
Results
Younger age, male gender, married status, higher education, and economic activity are positively associated with debt holding in both regions. Higher net wealth and home ownership are negatively related to debt, while risk aversion is unexpectedly positively associated with it. Western Europeans show lower odds of holding debt.
Novelty
The study offers an original contribution by systematically comparing socio-demographic determinants of older-age consumer debt between Eastern and Western Europe, filling a key gap in the household finance and ageing literature and revealing unexpected patterns in risk aversion and regional context.
© 2026 Giga Kikoria, Luule Sakkeus, published by University of Szczecin
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