Global demographics are undergoing a profound transformation. As life expectancies grow and birth rates decline in many parts of the world, the proportion of the elderly population is increasing at an unprecedented rate.
The World Health Organization (WHO) forecasts that by 2030, 1 in 6 people in the world will be aged 60 years or over. In 2030, the share of the global population aged 60 years and over will have increased from 1 billion in 2020 to 1.4 billion people. By 2050, the world’s population of people aged 60 years and older will double to 2.1 billion people. Longer term, the number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
