The world is facing an unprecedented aging population, with the number of people aged 65 and over expected to reach over 1.6 billion by the middle of this century. This demographic shift is posing significant challenges for societies worldwide, including in areas such as healthcare, housing, and retirement. Asian countries like Japan, South Korea, and China are at the forefront of this trend, with rapidly aging populations and shrinking labor forces. European countries like Italy and Greece are also experiencing similar challenges. While India currently has a young population, it too will face the consequences of aging in the future. Governments need to re-engineer systems and policies to adapt to these demographic changes and ensure the well-being of their elderly citizens.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Aging world population | Aging population | Increased number of elderly people | Natural change in population structure |
| Need for age-friendly infrastructure | Accommodating elderly | More slip-resistant and accessible environments | Aging population and their needs |
| Shifting demographics and challenges | Varying responses to aging | Different approaches to aging | Varied cultural, social, and economic factors |
| Government spending on pensions and healthcare | Financial strain on budgets | Increased expenditure on pensions | Aging population and increased life expectancies |
| Population decline and shrinking labor force | Demographic reversal | Lower population and workforce | Low fertility rates and aging population |
| Aging population and economic implications | Economic impact | Contraction of working-age population | Inverted demographic pyramid and labor shortages |
| Challenges of shrinking populations in Europe | Aging populations | Higher share of elderly population | Declining birth rates and increased life expectancies |
| India’s young population and demographic dividend | Young population | Demographic reversal in the future | Youthful population and changing demographics |
| Need for re-engineering of systems and institutions | System adaptation | Redesigned healthcare and social systems | Aging population and changing needs |