Latest official statistics released on Respect the Aged Day in Japan mark a symbolic milestone for the country with just shy of 32 million people – a quarter of the overall population – now over 65-years-old. (Hat tip to my colleague Ben McLannahan for spotting the numbers.)
Japan’s statistics agency also estimates that by 2035 the proportion of elderly people will rise to over 33 per cent.
Last year the IMF estimated that Japan’s working age population in 2050 would have fallen to the same size as it was at the end of the Second World War. Read more
Anyone wondering why the issue of paying for long-term care is rising so swiftly up the political agenda need look no further than the latest UK census.
Much of the conversation about older people to date has revolved around estimates of the future numbers of elderly who will need care. Projections for the number of over-85s by 2031 have been steadily revised upwards in the past couple of decades:
But there has been little focus on what has already happened. Read more
Guest post by Paul Hodges
The G20 group represents 79 per cent of global GDP. But when it comes to demographics, you can split its membership into three quite distinct groups.
This shows each country in terms of GDP per capita and median population age, with its economy’s size depicted by the bubble:
- Rich but old. These are wealthy western countries, with GDP per capita around $40,000 and median population age of 40 years
- Poor but young. These are emerging economies, with GDP per capita around $10,000 and median population ages of 25 to 30 years
- Poor and ageing. This group contains just China and Russia, who have GDP per capita around $10,000 but median population ages approaching 40 years