How can this demographic shift be a driver of economic growth at national, regional and global levels?
Population ageing is one of the greatest trends shaping the 21st century social, economic and political life. As the world approaches 2020 there will be 1 billion people over the age of 60 and virtually all of the OECD countries will have more old than young, with the rest of the world not far behind in this trend. As a result of this increased longevity many business leaders, policy-makers, non-governmental organizations, academics, economists and others are recognizing that population ageing can be, given the right strategic framework, a supremely powerful market driver.
The World Economic Forum has been a leader in thinking about and shaping the powerful arguments for healthy and active ageing since publishing its ‘Global Population Ageing: Peril or Promise’ report in 2012. To further engage on this subject, The World Economic Forum’s Global Agenda council on Ageing has produced a white paper titled, ‘How 21st-Century Longevity Can Create Markets and Drive Economic Growth’, which underpins that business is on the brink of a new, innovative and imperative opportunity that also has the potential to play a central role in transforming global society. The White Paper describes how this demographic shift can be a driver of economic growth at national, regional and global levels, and also highlights companies who have already begun to strategically position themselves in what they regard as a market growth opportunity.