Women, Generation Z, and Millennials are driving the investment universe in Europe, according to a study by YouGov commissioned by BlackRock to analyze European investing behavior. The survey, titled BlackRock People & Money 2024, also explores why some Europeans do not invest and examines the behavior of current and potential investors across 14 European countries, including Spain.
One of the key findings for Spain is that the number of female investors has risen by 16% compared to 2022 (from 16% to 19% in 2024), while the number of male investors has remained steady (at 37% from 2022 to 2024).
In Spain, the next wave of investors is expected to be younger and more female, with 49% aged between 18 and 34 and 48% being women (compared to 27% and 35% of current investors, respectively).
The new wave of ETF investors in Spain is also anticipated to be younger, with 49% of new ETF investors aged 18 to 34 (compared to 34% of current investors) and 35% women, representing a one-fifth increase.
In fact, as part of the study conducted by YouGov and BlackRock last year, respondents were asked which investment vehicles they currently use and which they intend to use in the next 12 months. ETFs were a standout: the number of ETF users in Spain is expected to nearly double within the next year (49%). Among these respondents, 28% currently have no investments and may begin with ETFs.
Younger individuals show a strong preference for digital ETF platforms, with 84% of Spaniards aged 18 to 34 choosing to invest through their bank, another provider’s digital platform, or a robo-advisor. 68% of older ETF investors (aged 35 and above) prefer to operate with ETFs through an online platform.
“The Spanish market has seen significant growth in the ETF space in recent years, closely aligned with global trends. According to our latest survey, we anticipate nearly 50% growth in the base of Spanish ETF consumers over the next 12 months,” notes Javier García Díaz, Head of Sales for BlackRock in Iberia. “This surge underscores the growing appeal of ETFs among young Spaniards, who seek simple, diversified, and cost-effective investment options to help them achieve their financial goals.”
More Investors Overall in Spain
Despite having one of the lowest levels of investors compared to the rest of Europe (28% of respondents are investors, compared to 34% of Europeans), Spain is seeing an increase in people investing. Indeed, the number of people investing has grown by 6% compared to the last survey. This trend is expected to continue, with 4% of non-investors entering the market in the next 12 months, adding 1.2 million new investors.
Spanish investors are also more likely to consult an advisor in person (46% of respondents) compared to their European counterparts (30%).
