In this article, we are going to discuss the 5 countries with the oldest populations in the world. If you want to check out our detailed analysis of the implications of an aging population on the economy, the global longevity economy, and workplaces that embrace older employees, head to 20 Countries with the Oldest Populations in the World.
5. Portugal
Percentage of Population Aged 65+: 21.8%
The last decade has shown that all regions in Portugal are seeing citizens live longer, though the greatest leaps have been seen in the autonomous regions of Madeira and Azores. Portugal currently registers 182 elderly (aged 65+ years) for every 100 young people (aged up to 14 years), becoming the fastest aging country in the European Union. As a result, the Western European nation has made major adjustments to its pension systems in line with demographic changes and labor markets and has created conditions for active and healthy aging.
4. Greece
Percentage of Population Aged 65+: 21.8%
According to a recent study on 81 countries by S&P Global, Greece is the only one that is expected to spend less by 2060 on its aging population. However, despite the reduced spending on pensions, the elderly will account for a very large percentage of total spending – 61.5% – with spending on healthcare to be at around 32% and the rest on long-term care. This will result in a poor quality of life for the elderly and an even weaker welfare state than today’s.
3. Finland
Percentage of Population Aged 65+: 21.9%
For five years in a row, Finland has ranked No. 1 as the Happiest Country in the World, which definitely has positive effects on the average life expectancy in the country. Since the early 1990s, the Northern European country has introduced programmes to support the employment of older workers, notably the National Programme on Ageing Workers.
One innovative solution to care for the elderly is Helsinki’s innovative remote care system, where clients have a tablet that links up with remote care nurses in a service center. Remote care appointments are set up to check on clients throughout the day and to make sure they take the relevant medication.
2. Italy
Percentage of Population Aged 65+: 22.8%
Despite the growth of McDonald’s and Starbucks in the Bel Paese, it is unlikely that Italians will be deviating from their Mediterranean diet any time soon. Eating fresh fish, fruits and vegetables, nuts, and cooking with olive oil is a major reason why Italy is counted among the Countries with the Highest Life Expectancy in the World. As a consequence of this, and combined with a low fertility rate, one in every three Italians is expected to be over 65 years old in 2050. In an attempt to tackle the issue of its aging population, the Italian government has appointed a minister for families, birth rate, and equal opportunities.
Italy is the Country with the Oldest Population in Europe.
1. Japan
Percentage of Population Aged 65+: 28.2%
Japan’s low birthrate and aging population is considered by many to be the greatest challenge facing the country, as the government’s previous efforts to encourage people to have more babies have had limited impact despite subsidies for pregnancy, childbirth, and childcare.
However, the Land of the Rising Sun also has a vision for the future where the elderly are not considered a liability but are encouraged to stay healthy and to continue playing active roles in the labor force and society. It acknowledges that its older citizens constitute a growing market for goods and services and are a critical part of what is often called a ‘longevity economy’.
Home to 8.7 million people aged 65 or older, Tokyo is the City with the Oldest Population in the World.
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