Summary of How 21st-Century Longevity Can Create Markets and Drive Economic Growth

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By 2050, the world will have more people who are 60 and older than individuals who are 15 and younger. That’s already the case in some OECD nations, and others will reach that mark before midcentury. Businesses are realizing that this cohort is potentially lucrative in terms of wealth, spending power and talent. The World Economic Forum presents a useful overview on how an aging population can create economic opportunity. getAbstract recommends this perceptive report to executives, employers and employees grappling with graying customers and workers.

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The World Economic Forum is an independent global organization that engages leaders of business, politics, academia and society to improve the state of the world.

 

Summary

The world’s population, both in developed and developing countries, is aging. By midcentury, about 30% of the global population – two billion people – will be older than 60 years old. But this cohort already wields tremendous financial clout: For example, Americans over 60 will hold 70% of US disposable income by 2017. The rise of the emerging economies and the greater role of women in the workforce were the 20th century’s economic touchstones, adding trillions to global GDP. The aging demographic could have an even greater effect on world output as individuals live and work longer. Health care, financial services, entertainment...


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