The Cross-border Household Finance and Consumption Survey: Results from the second wave

This report presents the methodology and main descriptive results of the second wave of the Cross-border Household Finance and Consumption Survey (XB-HFCS) conducted in 2014. The survey provides novel information on the economic and financial situation of households employed in Luxembourg but living in neighbouring countries (cross-border commuters), who contribute substantially to Luxembourg’s economy. We present results on the composition of their assets and liabilities, net wealth, income and consumption. Household net wealth of crossborder commuters is more equally distributed compared to that of employed households resident in Luxembourg. In addition, cross-border commuters have a higher median net wealth and gross income compared to those of the employed population in their country of residence. About 26% of their financial assets and 19% of their liabilities are located in Luxembourg. While the majority of the non-durable expenditures are done in the country of residence, cross-border commuters consume about 20% of their household income in Luxembourg.

Keywords: cross-border commuters, households, survey, assets, liabilities, wealth, income,consumption

JEL-Codes: D31, D14, C81, C83, J61