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FACTS: POPULATION AGEING

The challenges and opportunities

Population ageing is a global phenomenon, one of the major social challenges of the 21st century.

 

In Australia, it is estimated that by 2050

  • the number of people of current working age will increase by 45%
  • the number of people aged between 65 and 84 will more than double
  • those 85 and above will increase more than¬†four times
  • over the next 10 to 20 years Australia is expected to experience severe workforce shortages
  • In the Asian region, it is projected that by 2050, the number of people aged 65 or more will increase from the present 400 million to 1.25 billion.

Group Of Older People

These changes in demographic structure will have large effects on the economic and social fabric of many countries, including Australia, changes that create major economic and social challenges.

Enhancing the wellbeing of an ageing society, and minimising the stresses of adjustment, will require government, business, and households to respond to dramatically changing fiscal, labour force, family, health, and financial circumstances.

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