How will changing demographics impact our world? How can we benefit from the longevity dividend?
Exploring the economic, financial, technological and social opportunities and challenges resulting from the current demographic shift, decreasing birth rate and increased healthy life span.
The world is aging.
On average there are more people over 65 than children under five years old. This demographic shift is impacting mainly Asia and some European countries, but slowly affecting also other parts of the globe. The traditional view on how we age represents an enormous social, personal and economic challenge to modern society because of the increased resources needed to sustain a growing nonproductive part of the society.
Negative perceptions of aging pervade societies and cultures. They persist because aging in Western culture is associated with vulnerability and frailty, loneliness, and decline or loss of health and vitality.
Currently employees over 55 often face workplace bias and self-doubt that hinders their ability to find a new job, get promoted or even start a new business. This in turn, limits their ability to maintain a steady income and a sense of belonging, responsibility, career satisfaction and fulfillment, followed often by health decline.
On the other hand, the aging of society represents an economic and social opportunity in our times. It is one of the fastest growing age groups and their spending power is increasing. With current advancements in research and healthcare, if the average health span increases to 100 plus, at 65 we will be at the peak of our professional potential.
One of the most interesting challenges of our times will be to keep this group healthy, active and economically independent.
February 27, 2020
January 13, 2020