Economic Impacts of Aging Population

An aging population refers to a growing number of older individuals in society. This shift can lead to several economic impacts, such as increased healthcare costs due to higher medical needs, a shrinking workforce as more people retire, and greater pressure on pension systems as fewer workers support more retirees. Additionally, consumer spending patterns may change, with older adults often favoring different goods and services. Governments may need to adjust policies to address these challenges, ensuring sustainable economic growth while supporting the aging population's needs. Overall, managing an aging population is crucial for maintaining economic stability.