Matching the potential: Maximising the economic opportunities of healthy ageing

Matching the potential: Maximising the economic opportunities of healthy ageing

< Back

Paper presentation

Presenter(s):

David Sinclair, International Longevity Centre, United Kingdom

Abstract

Countries across the world are ageing. There’s a huge business opportunity to invest in healthy ageing – but are governments and businesses responding fast enough? What’s the innovation landscape when it comes to healthy ageing? And how can businesses trade and scale up to match the potential?

Through this discussion David will highlight how long lives could drive economic growth.

We’ve become accustomed to our ageing population being presented as a bad thing. Policy makers are so fixated on the direct costs of ageing that they fail to notice the significant and growing contributions that older people make. This prevents them from fully realising the social and economic potential of older people – and from appreciating the potential longevity dividend.

We can’t ignore the challenges for the public purse and the wider economy – but realising the opportunities of ageing can help address these. We can maximise the opportunities for older people to work, earn, and spend, and to volunteer and care for loved ones.

David will highlight how older people’s social and economic impact is already significant: In 2014, workers aged 50 and over earned every third dollar in the G20 economy. By 2035, older workers are projected to generate nearly 40% of all earnings across the G20. He will also discuss how to release even more economic growth. In countries that spend more in health, older people work, volunteer and spend more. People who report being in good rather than poor health are over four times more likely to be in work between the ages of 50 and 65, and over 10 times more likely between 65 and 74.

Bio(s):

David has worked in policy and research on ageing and demographic change for 20 years.

David has a particular interest in older consumers, active ageing, financial services, adult vaccination, and the role of technology in an ageing society. He has a strong knowledge of UK and global ageing society issues, from healthcare to pensions and housing to transport.

David has presented on longevity and demographic change across the world (from Seoul to Singapore and Sydney to Stormont). And he has published reports on a range of topics including transport, technology, health and consumption.

David is an International Advisor for the Sau Po Centre on Ageing at Hong Kong University and a member of the External Advisory board for the University of Surrey Centre of Excellence on Ageing.

David has worked as an expert for the pan-European Age Platform for 15 years and is the former Vice-Chair of the Government’s Consumer Expert Group for Digital Switchover. For ten years he chaired a London based charity (Open Age) which enables older people to sustain their physical and mental fitness, maintain active lifestyles and develop new and stimulating interests.

Prior to joining the ILC, David worked as Head of Policy at Help the Aged where he led a team of 8 policy advisors. David has also worked for environmental and disability organisations in policy and public affairs functions. His other experience includes working as a VSO volunteer in Romania, in Parliament for a Member of Parliament, and with backbench committees.

David is married, and has a 17 year old daughter. He runs (slowly) and cycles (a little quicker), is a retired football referee and once scored a penalty against Peter Shilton.