22 January 2019 - 12:30
The impact of ageing on the economic system
From the welfare state to the finance: the decrease of the active population will provoke a change of system
Ageing is a global phenomenon that is not showing signs of abating and will affect every economy on the planet. In fact, according to the UN the number of people 60 years of age and beyond will double by 2050 and treble in 2100, going up from the current figure of 962 million to 2.1 billion in 2050 and 3.1 billion in 2100.
A growing senior population requires adjusting welfare systems around the world to accommodate the new needs, as policymakers will be called to privilege action aimed at prevention and at providing economic and social support, bearing well in mind that a decline of the working population may lead to economic slowdown.
An adequate answer to the issue of ageing population can be given. The insurance sector, for example, could benefit from the situation by designing specific services aimed at improving the health of individuals and the quality of their lives by delivering a more efficient management of their assets.
Read here Generali’s report on the topic.