What People Living Longer Means for Business

The Economist Intelligence Unit has conducted research in this topic and reported its findings in it’s A silver opportunity? Rising longevity and its implications for business.

The report was sponsored by AXA download it here -[download id=”19″]

” A striking demographic change is taking place worldwide, as people live longer than ever before and fertility rates fall in many regions. Globally, the number of those aged 65 and over is growing at around twice the rate of the overall population. This age cohort is now the fastest-growing primary segment of the world’s population, and its growth rate is outstripped only by that of an even older subgroup:
those aged 80 and above.

The combination of greater longevity and falling birth rates poses many challenges, for individuals approaching retirement, for societies and governments dealing with the rising pension and healthcare
costs and for companies.

This effect occurs mainly in two spheres: that of companies as employers of older workers and that of companies as marketers of goods and services to older consumers. In both spheres, the coming
demographic changes will require companies to “shift gears and adapt”, in the words of Jan Willem Kuenen, a partner at Boston Consulting Group. “Everyone knows of the [likelihood of an] impact, but not of the magnitude of the impact,” he adds.”

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