Concerned about today, hopeful about 2040: Young changemakers on Europe’s economy

Young changemakers are worried about where Europe’s economy is heading over the next decade. Yet when asked to look further ahead, to 2040, they envision an economy that is more sustainable, inclusive and measured by more than GDP.

The Future Economy Report, co-designed by the Bertelsmann Stiftung, The Possibilist, the EIB Institute and the Center for Social Entrepreneurship and Social Innovation at the Vienna University of Economics and Business (WU Vienna), surveys young changemakers – impact-oriented young entrepreneurs across Europe – and members of The Possibilists Alliance. Their responses suggest that while today’s challenges are acute, young changemakers remain confident in Europe’s capacity for systemic transformation driven by sustainability, inclusion and new measures of economic success.

The way forward

Looking ahead over the next 10 to 15 years, changemakers are predominantly cautious about the European economy. Almost half rate its future development as fairly poor (37.2%) or very poor (10.3%), while 39.1% expect it to be fairly good (31.4%) or very good (7.7%). Another 13.5% did not offer an assessment, suggesting that uncertainty, as well as pessimism, shapes expectations about Europe’s economic trajectory. Young changemakers express particular concern about issues such as price stability and the impact of AI on employment.

Yet when asked to imagine Europe’s economy in 2040 and identify the most positive developments, respondents most frequently point to sustainability (52.1%), alternative measures of success beyond gross domestic product (GDP) (46.6%), and greater solidarity and inclusion (41.8%). Together, these priorities point to an understanding of economic progress that extends beyond growth alone. For these changemakers, a successful economy is not simply one that produces more, but one that is sustainable, inclusive and capable of delivering broader social value. It involves a wide range of stakeholders and coordinated action across politics, markets, institutions and society. Beyond these core priorities, changemakers highlight the relevance of cross-border collaboration (23.3%), financial fairness and equality (18.5%), and innovation, including artificial intelligence (17 to 18%). These findings suggest that they view technological and institutional change primarily as means of enabling a transformed economy rather than as ends in themselves.

Limits to growth

Insufficient funding (55.8%) is the most frequently cited obstacle facing young innovators today. Respondents also point to the difficulty of balancing multiple responsibilities, including work, education and family caregiving. For a growing number of changemakers, these pressures contribute to an increased risk of burnout and a sense that the system expects them to develop ever greater resilience without providing the conditions necessary to make their solutions sustainable over the long term.

Pathways to greater impact

Systemic change can also begin within organisations themselves. Changemakers are using their organisations to rethink how impact is created, treating governance, ownership and organisational culture as important levers of transformation. Sixty percent of the changemakers surveyed regard shared decision-making, stronger governance, and a healthy organisational culture as particularly effective approaches and report that they have already put them into practice.

Taken together, the findings reveal a clear and coherent vision of economic transformation among young entrepreneurs and changemakers across Europe. Drawing on their insights, we developed the Future Economy Compass to illustrate what respondents see as the critical building blocks of a better future economy. The Compass also brings together concrete policy proposals, innovations and systemic changes that changemakers believe could help turn this vision into reality.

The Future Economy Report 2026 is more than a snapshot of current attitudes. It is an invitation to policymakers, funders, businesses and support organisations to create the conditions young changemakers say they need: fewer bureaucratic barriers to social entrepreneurship, greater access to long-term funding and capacity building, the integration of circularity into core business practices, and frameworks that facilitate democratic governance and alternative ownership models. This generation is ready to help shape Europe’s economic future, but realising its potential will require an ecosystem that enables changemakers to achieve greater and more sustainable impact.

Methodology

The survey combines quantitative and qualitative questions designed to encourage reflection while maintaining a high completion rate. A council of seven young changemakers and entrepreneurs from across Europe advised on the questionnaire design to ensure that it reflected the realities faced by facing young entrepreneurs. The study targeted young ages 16 to 35 who lead initiatives addressing social or environmental challenges and whose work had progressed beyond the idea stage and already demonstrated measurable impact. Data were collected from September 22 to November 9, 2025. The survey initially reached 417 young changemakers across 29 European countries. Following data cleaning, 156 valid responses were included in the analysis. Respondents represented a broad range of fields, with Germany, the Netherlands, the United Kingdom and Spain accounting for a comparatively high share of participants.

Banner photo credit: Daniele Trapletti