June 2023
05Jun

Elderly Outnumber 20-Somethings in Korea’s Workforce

For the first time ever senior citizens outnumber 20-somethings in Korea's workforce after decades of low birthrates and an aging society.According to Statistics Korea, 3.38 million people over 60 were employed in the fourth quarter of last year, up 284,000 from the same period of 2021. But only 3.22 million Koreans in their 20s were employed, down by 36,000 over the same period.It was the first time in seven quarters that the number of young workers declined.That brought the...

June 5, 2023
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01Jun

Global fertility has collapsed, with profound economic consequences

In the roughly 250 years since the Industrial Revolution the world’s population, like its wealth, has exploded. Before the end of this century, however, the number of people on the planet could shrink for the first time since the Black Death. The root cause is not a surge in deaths, but a slump in births. Across much of the world the fertility rate, the average number of births per woman, is collapsing. Although the trend may be familiar, its...

June 1, 2023
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May 2023
31May

China. From demographic dividend to talent dividend

Population aging is a distinct demographic phenomenon in the 21st century, with declining fertility and increasing life expectancy combining to raise the share of elderly people in the total population of many countries. But unlike in Western developed countries, China's total fertility rate has declined drastically within a short period of time — from more than 6.0 in the late 1960s to 2.1 in 1991 and 1.6-1.7 since 1994 to 1.07 in 2022. In comparison, the total fertility rate is...

May 31, 2023
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25May

Longevity, A $56 Trillion Opportunity. With Andrew Scott

In unguarded moments, politicians occasionally wish that retired people would "hurry up and die", on account of the ballooning costs of pensions and healthcare. Andrew J Scott confronts this attitude in his book, “The 100-Year Life”, which has been sold a million copies in 15 languages, and was runner up in both the FT/McKinsey and Japanese Business Book of the Year Awards. Scott joined the London Futurists Podcast to discuss his arguments. Scott is a professor of economics at the...

May 25, 2023
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23May

Aging population presents opportunity for travel sector, says leading economist

An aging global population presents an opportunity for the travel sector to exploit, according to a leading economist. Speaking at The Advantage Travel Partnership’s annual conference in Benidorm, professor Trevor Williams shared a positive outlook for the industry despite the global economic uncertainty. The former chief economist for Lloyds Bank told delegates that living standards across the world are increasing and people are generally “consuming more than ever before”, as he highlighted how rising life expectancy could favour travel agents and operators. “Global...

May 23, 2023
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22May

China issues guidance for basic elderly care system by 2025

China has issued guidance to all provinces to build a basic elderly care system by 2025, state-run Xinhua news agency said on Sunday, in the latest step to prevent a demographic crisis. Who takes care of the elderly in China, where pensions are tiny, is one of the major headaches policymakers face as they deal with the country's first demographic downturn since Mao Zedong's Cultural Revolution. The ruling Communist Party has mobilised resources to ensure that more vulnerable age groups are...

May 22, 2023
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19May

How To Minimize Ageism Through The Use Of AI

Artificial intelligence (AI) holds great promise in the fight against ageism, and future technologies powered by AI can be a first step to ensure older adults are fully involved in the processes, systems and, ultimately, services that will affect them throughout the aging journey. Healthcare providers, governments, academia, not-for-profits and businesses can ensure that AI is not only strengthening healthcare for older adults but also empowering them to meet their individual needs. At the same time, there are also significant risks...

May 19, 2023
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17May

Hong Kong’s ageing population time bomb to leave a shortage of 60,000 residences for the elderly by 2032: JLL

Hong Kong will face a shortage of over 60,000 residences for the elderly by 2032 as the city’s population rapidly ages, before eventually becoming the world’s oldest society by 2050, according to JLL. The city’s Kwun Tong, Yuen Long, Sha Tin and Eastern district are among the areas with the most serious ageing problem, the property consultancy said in a report on Tuesday. In Kwun Tong, only one in 41 elderly people will find a place in elderly homes, it...

May 17, 2023
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16May

Loneliness can impact longevity & quality of life, claims study

Vivek Murthy, the US surgeon general, recently warned that "being socially disconnected" has a similar effect on mortality as smoking up to 15 cigarettes a day. This statement was widely reported in the media, including in the Washington Post, the Times and the Daily Mail. But where does this "15 cigarettes a day" figure come from? Dr Murthy is referring to a study published in 2010 that explored social relationships and mortality rates. The researchers combined the data from 148...

May 16, 2023
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09May

Impact of Spain’s Aging Population: Demographic Shift’s Effect on Major Sectors

Spain is a beautiful country known for its vibrant culture, stunning landscapes, and delicious cuisine. However, behind this facade lies a looming issue that threatens to shake the very foundation of Spanish society: an aging population. This demographic shift is having a profound impact on the country’s economy, social services, and overall way of life. This trend is expected to continue in the coming years, with the proportion of seniors projected to rise to 25% by 2050. As per the...

May 9, 2023
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