Insight
Title:
Demographic change & ageing populations
Description:
- By 2030 the world’s population is projected to rise by more than 1 billion. Equally significantly, people are living longer and having fewer children. (Source: Megatrends - Issues - PwC UK)
- By 2020, the spending power of people aged 60 and over will reach an estimated $15trn. (Source: Are megatrends simply hype or a serious investment opportunity?)
- The millennial generation is growing and could soon be one of the largest in history. (Source: Are megatrends simply hype or a serious investment opportunity?)
- PwC estimates that the OECD could gain more than $3.5 trillion by raising the employment rates of older people to levels found in New Zealand and Iceland (where 56% of those over 65 work). Source: 2020: Preparing for a Decade of Change and Transformation)
Experts are still contemplating the impact of COVID-19 on average life expectancies.
PESTEL:
Social