Belgium sees shift from bank savings to investment funds

Belgian households are shifting their financial behavior, moving away from traditional savings accounts toward investment funds, stocks, and bonds. While Belgians maintain one of the highest net financial wealth levels in the Eurozone—averaging €257,000 per household—their financial savings rate has dropped to approximately 4% of disposable income, compared to the Eurozone average of 6%.

Historically, Belgian savings have been heavily concentrated in real estate, which accounts for roughly 70% of their savings. However, since late 2025, a notable shift has occurred. The proportion of liquid assets held in investment funds has grown to 34%, as citizens increasingly seek to grow their wealth through market-based instruments rather than simple bank deposits.

Despite this trend, several factors continue to limit broader participation in the markets. Risk aversion, a lack of financial knowledge, and taxation remain significant barriers. An ING study suggests that had Belgians invested a quarter of their new deposits into funds over the last thirty years, their financial wealth would be €83.3 billion higher than current levels.