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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Michalis Skordoulis & Androniki Kavoura & Angelos-Stavros Stavropoulos & Alexandros Zikas & Petros Kalantonis, 2025. "Financial Stability and Environmental Sentiment Among Millennials: A Cross-Cultural Analysis of Greece and The Netherlands," IJFS, MDPI, vol. 13(2), pages 1-21, April.
    • Handle: RePEc:gam:jijfss:v:13:y:2025:i:2:p:64-:d:1634000
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    References listed on IDEAS

    as
    1. Stamatios Ntanos & Sofia Asonitou & Grigorios Kyriakopoulos & Michalis Skordoulis & Miltiadis Chalikias & Garyfallos Arabatzis, 2020. "Environmental Sensitivity of Business School Students and Their Attitudes Towards Social and Environmental Accounting," Springer Proceedings in Business and Economics, in: Androniki Kavoura & Efstathios Kefallonitis & Prokopios Theodoridis (ed.), Strategic Innovative Marketing and Tourism, pages 195-203, Springer.
    2. Stamatios Ntanos & Grigorios Kyriakopoulos & Miltiadis Chalikias & Garyfallos Arabatzis & Michalis Skordoulis & Spyros Galatsidas & Dimitrios Drosos, 2018. "A Social Assessment of the Usage of Renewable Energy Sources and Its Contribution to Life Quality: The Case of an Attica Urban Area in Greece," Sustainability, MDPI, vol. 10(5), pages 1-15, May.
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