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Connecting ageing and the economy 1

Matching the potential: Maximising the economic opportunities of healthy ageing

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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):

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