The ageing population trend is a global phenomenon where the median age of a population is increasing due to declining fertility rates and rising life expectancy.
According to the World Health Organization, all countries face major challenges to ensure that their health and social systems are ready to make the most of this demographic shift. By 2050, 80% of older people will be living in low- and middle-income countries. The pace of population ageing is much faster than in the past. In 2020, the number of people aged 60 years and older outnumbered children younger than 5 years. Between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. This shift in distribution of a country’s population towards older ages – known as population ageing – started in high-income countries, but it is now low- and middle-income countries that are experiencing the greatest change. By 2050, two-thirds of the world’s population over 60 years will live in low- and middle-income countries.
An ageing population presents several challenges to society. Some of these challenges include:
- Increased healthcare costs: As people age, they are more likely to experience several health conditions at the same time, which can increase healthcare costs.
- Increased demand for long-term care: An ageing population may require more long-term care, which can put a strain on healthcare systems.
- Labor-force shortages: An ageing population may result in a smaller workforce, which can affect economic growth.
- Old-age income security: As people live longer, there may be concerns about the sustainability of pension systems and the ability of older people to support themselves financially.
These are just some of the challenges that come with an ageing population. It is important for governments and societies to address these challenges in order to ensure that older people can live healthy and fulfilling lives.
An ageing population can have several benefits for society. Some of these benefits include:
- Increased productivity: Older people are able to adapt to their changing circumstances and wish to contribute to the societies they live in for as long as they possibly can. There is evidence of the productivity, creativity, vitality and participation of older adults in workplaces, communities, households, and families.
- Economic activity: Farming in developing countries is increasingly dominated by older workers, and a significant proportion of global food comes from small-holdings managed by older people, including many women. In urban areas, many older men and women remain employed in the formal labour market. In the informal labour market, there is widespread evidence from Africa, Asia and Latin America of older men and women’s ongoing productivity.
- Community work: A recent study of community work in Asia found that more than a quarter of Indians and Taiwanese and a fifth of Filipino and Chinese men and women in their 60s and 70s regularly helped in the wider community, providing assistance to individuals of all ages. Other studies have highlighted the importance of the local knowledge and community-organising skills of older people’s associations in disaster relief efforts.
These are just some of the benefits that come with an ageing population.