Population Aging and Economic Development

Population aging refers to the increasing proportion of elderly individuals in a society, often due to longer life expectancies and declining birth rates. This demographic shift can strain economic development as a smaller workforce supports a growing number of retirees. It may lead to higher healthcare costs and pensions while potentially reducing economic growth. Conversely, if managed well, aging populations can contribute through accumulated skills and experience. Balancing the challenges and opportunities of an aging population is crucial for sustainable economic development, requiring policies that support both the elderly and the working-age population.