World gets poised for significant demographic shift
Date
10/1/2024 8:08:27 AM
(MENAFN) By 2030, the world is poised for a significant demographic shift, as the population aged 65 and older is projected to outnumber the youth, defined by the United Nations as those between the ages of 15 and 24. This change marks a critical moment in global demographics, with elderly individuals expected to double the number of children under five years old.
The United Nations designated October 1 as the "International Day of Older Persons" in 1990, highlighting the need to address the challenges posed by an aging population and to improve the living conditions of older individuals. Recent forecasts indicate that the global population is anticipated to reach approximately 8.5 billion by 2030, increasing to 9.7 billion by 2050 and potentially 10.4 billion by 2100.
The elderly population is set to more than double, reaching around 1.6 billion by 2050, which would mean that over 16 percent of the world's population will be aged 65 and older. This demographic trend marks a significant shift from 1950, when individuals aged 65 and above represented only one in every 20 people globally. By 2021, that ratio had changed to one in ten, and projections suggest that by 2050, it could reach one in six.
Focusing on regional demographics, Asia and Europe are home to the majority of the world's oldest populations. Japan currently leads the way, with 30 percent of its population aged 65 and older. Following Japan is Italy, with 23 percent of its population in the same age bracket. Other countries, such as Finland, Portugal, and Greece, have elderly population rates of around 22 percent. Furthermore, Hong Kong and South Korea are expected to surpass Japan, with their elderly populations projected to reach as high as 40 percent.
As the world grapples with this demographic transformation, the implications for social services, healthcare, and economic structures will be profound, necessitating strategic planning and policy adjustments to accommodate the needs of an aging global populace.
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