Is age just a number? Meeting the economic challenges of a graying world

The world is experiencing a staggering rise in the number of old people and they will live longer than even before. By 2060, the share of people older than 65 will double globally, from 9 to 18%, and the share of people over 80 will triple to 5.1% (Figure 1). Advanced economies are ageing rapidly as life expectancy increases and fertility continues to decline. Across emerging economies, the situations are contrasted, with China, Brazil and Turkey ageing fast while for instance India’s population will age only slowly. More...