Japanese Seniors Spending Less on Their Grandchildren www.nippon.com

A recent survey on Japanese seniors’ lifestyles found that in the past year, the average amount grandparents spent on their grandchildren was ¥112,715. The survey, conducted annually by Sony Life Insurance, also revealed the most common amount was in the range of ¥50,000 to ¥100,000, at 27.1% of respondents. Spending on grandchildren had been on the rise up until 2019; however, it dropped considerably year on year by ¥18,619. Sony Life Insurance suggest that, in addition to not being able to meet their grandchildren as often due to COVID-19, the October 2019 consumption tax hike may have had a significant effect.