Monday, March 7, 2011

The Age of Ageing

I've written a piece in today's Irish Times about the business opportunities arising from Ireland's ageing population:

OLDER PEOPLE are happier: that’s a fact. Of course, it depends on your definition of “older”. In survey after survey – across dozens of countries – the curious fact emerges that people’s self-reported happiness declines from their late teens until their late 40s and then it starts to rise again. And it keeps rising until people are into their 80s.
While this may not be good news for teenagers, and is probably old news for people in their 40s (an unhappy bunch in most surveys nowadays), the finding is certainly good news for Ireland’s growing population aged 50 and over. Right now they number more than 1.2 million – nearly 28 per cent of the entire population – and their numbers are set to grow substantially over the coming decade.
Charlie Preston has also reviewed my company's recent survey of Ireland's over 50s. As Ireland looks ahead to a decade of slow recovery, then any opportunity to secure longer term growth must surely be seized upon. The size of the opportunity is enormous. Take the recent Accenture report on New Waves of Growth. They specifically identify the 'silver economy' - i.e.: those commercial and economic opportunities arising from an ageing population - as one of four growth drivers. The chart shows the potential impact on the UK's economy from a 'silver growth' strategy.

The research by the way was done as part of this week's Business of Ageing Conference. It's not too late to book...

2 comments:

  1. Alternatively a sort of Logan's Run arrangement would result in a nice inheritance tax windfall for the government, plus the beleaguered Xers would then be in a position to clear their debts?

    ReplyDelete
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