How Norwegian Millennials Became The Richest Millennials In Europe

Being a millennial isn’t easy. You’re probably making less money than your parents ever did and without the financial securities (hello, pension) that were taken for granted back in their day. Unless you’re in Norway, that is. According to the Luxembourg Income Database, Norwegian millennials are actually experiencing a rise in their disposable income in sharp contrast to millennials living in other countries. Here’s what you need to know before you buy your next avocado.

Being a millennial in Norway

Millennials are being branded as ‘entitled’ and ‘privileged’ by the media – but are they really? A recent report generated by the Luxembourg Income Database for the UK think tank The Resolution Foundation paints a different picture. According to the findings, millennials in almost every country have actually had it worse than Generation X: in the US, millennials have 5% less average annual disposable income than their Gen X counterparts; in Germany, 9% less; in financial-crisis-stricken Southern Europe, that number plummets to 30%, which makes Norway’s case all the more striking.

Norwegian millennials are actually making more money than the previous generation. The BBC reports that in Norway, people in their early thirties make around 460,000 NOK (£43,125.72) yearly, an average rise of 13% in disposable household income since the Gen X days. The reasons for this increase can be traced back to the oil discovery in Norway and the subsequent huge economic growth in the oil and gas sectors in the last three decades. Simply put, everyone is doing better now, not just the millennials – it’s just that the millennials in Norway are growing up in the best possible time to reap the rewards of that growth.

A combination of good luck and good providence

Apart from fortuitous circumstances, though, it’s also the wise management of the country’s newfound wealth along with the Scandinavian egalitarian principles and transparency that are giving Norwegian millennials a distinct advantage over their avocado-loving peers in other countries. The Luxembourg Income Database has found that wider wage bands and inequality have been the core factors bringing down income and quality of living for millennials in other countries – but in Norway, the bracket between people who make more money and people who make less is not that large.

Other contributing factors are the low unemployment rate, along with great unemployment benefits and health care that for the most part is subsidized (technically paid by people’s taxes). Add that to the fact that wages are being negotiated by unions and usually rise each year, and millennials’ prosperity in Norway starts making sense. Which is good news. Norway is a very expensive and very beautiful country, so millennials (and people of all ages, really) should be making enough money to be able to explore it.

Norwegian millennials work, but also play hard

landscape with balloons floating in the air

KEEN TO EXPLORE THE WORLD?

Connect with like-minded people on our premium trips curated by local insiders and with care for the world

Since you are here, we would like to share our vision for the future of travel - and the direction Culture Trip is moving in.

Culture Trip launched in 2011 with a simple yet passionate mission: to inspire people to go beyond their boundaries and experience what makes a place, its people and its culture special and meaningful — and this is still in our DNA today. We are proud that, for more than a decade, millions like you have trusted our award-winning recommendations by people who deeply understand what makes certain places and communities so special.

Increasingly we believe the world needs more meaningful, real-life connections between curious travellers keen to explore the world in a more responsible way. That is why we have intensively curated a collection of premium small-group trips as an invitation to meet and connect with new, like-minded people for once-in-a-lifetime experiences in three categories: Culture Trips, Rail Trips and Private Trips. Our Trips are suitable for both solo travelers, couples and friends who want to explore the world together.

Culture Trips are deeply immersive 5 to 16 days itineraries, that combine authentic local experiences, exciting activities and 4-5* accommodation to look forward to at the end of each day. Our Rail Trips are our most planet-friendly itineraries that invite you to take the scenic route, relax whilst getting under the skin of a destination. Our Private Trips are fully tailored itineraries, curated by our Travel Experts specifically for you, your friends or your family.

We know that many of you worry about the environmental impact of travel and are looking for ways of expanding horizons in ways that do minimal harm - and may even bring benefits. We are committed to go as far as possible in curating our trips with care for the planet. That is why all of our trips are flightless in destination, fully carbon offset - and we have ambitious plans to be net zero in the very near future.