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Study reveals the financial value of stay-at-home parents across the globe
Invest
Study reveals the financial value of stay-at-home parents across the globe
A new index created by beikecelltherapy.com, a stem cell therapy expert, has quantified the time stay-at-home parents dedicate to their role and calculated the cost of outsourcing their tasks in 80 global cities. The study aimed to measure the value of the work stay-at-home parents do during the years children typically live at home.
Study reveals the financial value of stay-at-home parents across the globe
A new index created by beikecelltherapy.com, a stem cell therapy expert, has quantified the time stay-at-home parents dedicate to their role and calculated the cost of outsourcing their tasks in 80 global cities. The study aimed to measure the value of the work stay-at-home parents do during the years children typically live at home.
The index identified the home maintenance and childcare tasks that stay-at-home parents carry out each day and used time use data to calculate the amount of time parents typically spend on these activities. The data was modelled for families with one to four children, and the total time spent on each activity per month was calculated for each family size. The researchers then extrapolated the data over a 20-year period for each child to create a total number of hours spent on parental duties during the course of each childhood.
The cost of outsourcing these tasks in each city was determined using salary data websites, and the total cost was calculated by multiplying the hourly rates by the number of hours spent on each task over the course of a child's upbringing.
The results reveal that stay-at-home parents with one child spend 155.5 hours on parental and household tasks per month, which rises to 200.8 hours for two children, 273.6 hours for three children, and 291.2 hours for four children.
The cost of outsourcing parental duties for one child's 20-year upbringing would be highest in Zurich, Switzerland (€1.03 million), followed by Basel, Switzerland (€954,000) and San Francisco, USA (€942,000).
In the Netherlands, the most expensive cities for outsourcing parental duties over a child's 20-year upbringing are The Hague (€611,594), Rotterdam (€592,997), Amsterdam (€583,680), and Utrecht (€554,518).
The study also broke down the time spent on various home maintenance and childcare tasks per month, with cleaning (15.9 hours), shopping (11.0 hours), cooking (19.1 hours), and laundry (8.6 hours) being the primary home maintenance tasks. For childcare, emotional support (68.1 hours), planning and administration (17.9 hours), transportation (10.8 hours), and tutoring (4.1 hours) were the main tasks.
The full results, including figures for stay-at-home parents with two, three, and four children, can be found on the beikecelltherapy.com website.
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