Indonesia and the United Arab Emirates are the places where most parents support their adult children financially on a regular basis, according to a report by British bank HSBC. 77 and 79 percent of parents from these countries said they were at least partially funding their grown-up kids’ lives.
Almost half of parents who said they were supporting an adult child said they had been doing so for more than twelve years, according to the survey. Most parents reported supporting their kids with money going towards education (59 percent) and everyday living costs (49 percent). 27 percent of parents even reported helping to pay for holidays.
Parents in the U.S. and the UK are less inclined to pay for their adult kids. Only 26 and 30 percent, respectively, said they were giving grown-up kids money. U.S. and UK parents are therefore more in line with the common notion among parents that adult children should stand on their own two feet. Globally, 61 percent supported this statement.
Where Most Parents Support Adult Children Financially
Child Support
Description
This chart shows the share of parents who support their adult children financially on a regular basis in selected locations.
