Because the UN commemorated World Day of Social Justice on February 20, we’re looking at one of many key challenges the world is dealing with within the coming a long time: the gradual and largely irreversible shift in direction of an older inhabitants.

Based on the United Nations Inhabitants Division, the variety of individuals aged 65 and older is predicted to double over the following three a long time, reaching 1.6 billion in 2050.

As Statista’s Felix Richter exhibits within the following chart, Asia is on the forefront of this pattern, with Hong Kong, South Korea and Japan anticipated to have the best share of individuals aged 65 and older by 2050.

One can find extra infographics at Statista

Whereas Japan is known for its outdated inhabitants and was already topping the checklist in 2022, different Asian economies are in the course of a major shift, as life expectation has quickly improved over the past a long time and continues to take action. By 2050, roughly 40 p.c of the populations of Hong Kong, South Korea and Japan are anticipated to be 65 and older, which makes an enormous distinction to ranges at present noticed in extremely developed areas, the place the share of older folks is within the low 20s.

“Inhabitants ageing is a defining world pattern of our time,” the UN Division for Financial and Social Affairs writes in its World Social Report 2023, calling it a “main success story” that brings each challenges and alternatives. One of many essential challenges for international locations with ageing populations is to make sure that the economic system can assist the consumption wants of a rising variety of older folks, be it by elevating the authorized retirement age, eradicating obstacles to voluntary labor pressure participation of older folks or by making certain equitable entry to training, well being care and dealing alternatives all through the lifespan, which can assist to spice up financial safety at older ages.

Particularly international locations within the early levels of the demographic shift have the chance to plan forward and implement the proper measures forward of time, to successfully handle the challenges that include an ageing inhabitants.