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HomeThe silver economy
Executive summary
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Europe’s population is ageing as a result of falling birth rates and higher life expectancy, which will bring a number of challenges but also represents an important economic opportunity for Europe’s businesses. Older citizens are increasingly shaping economies, constituting a large and growing segment in many areas of consumption, and the expansion of this demographic is expected to boost demand in many sectors. The so-called Silver Economy is a concept that has caught the attention of policy makers and economic operators alike, and this promise of more growth and jobs is a powerful rejoinder to the more typical anxieties about worsening dependency ratios. The Silver Economy is a balancing factor, and one that will be profitable to businesses as well as connected to a positive and socially inclusive identity for older adults in Europe. The recent World Bank report on Golden Aging also took a positive view on developments, and argued that ageing societies are not pre-destined to experience stagnation or a decline in living standards. Individuals and firms change their behaviour in response to changing conditions, and policy can help or hinder adaptation to demographic shifts. It is clear the behavioural changes that will help reduce dependency ratios and sustain productivity will most likely not happen automatically. A supportive policy environment, with the right incentives and support measures will be key to facilitate this transition.
- Published:
- Corporate author(s): Directorate-General for Communications Networks, Content and Technology (European Commission) , Oxford Economics , Technopolis
- Personal author(s): Farla, Kristine ; Simmonds, Paul ; Worthington, Henry ; Varnai, Peter
- Themes: Information technology and telecommunications , Social
- Subject: economic growth , economic sector , economic situation , elderly person , health care , impact of information technology , life expectancy , new technology , population ageing , quality of life , social integration , social participation
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| ISSN | ISBN 978-92-79-76905-4 | DOI 10.2759/640936 | Catalogue number KK-05-17-233-EN-N |