In 2020, 20 percent of the developed world’s population is aged 65 or above.*
By 2018, one in every four Japanese, one in every five western European, and one in every ten Chinese is over the age of 65.**
Declining fertility rates coupled with remarkable improvements in healthcare and longevity drive the aging of the world’s population. It doesn’t affect nations uniformly, however, with some facing a “demographic divide” between their young and aging populations much earlier than others. The decline of the working-age population and growth of the elderly, dependent segment has far-reaching implications on workforce dynamics, government services, healthcare costs and economic growth. Greater female participation in the workplace, however, helps to mitigate the economic impacts of global aging. Nations with predominantly young populations — such as India, where one third of the population is under the age of 15 — see a significant boost in their economies and labor markets.
*”World Population Prospects,” UN, http://esa.un.org/unpd/wpp/unpp/panel_indicators.htm.
**”Healthcare and Life Sciences Predictions 2020″, Deloitte Centre of Health Solutions, http://www2.deloitte.com/content/dam/Deloitte/uk/Documents/life-sciences-health-care/healthcare-and-life-sciences-predictions-2020.pdf.