#209 – Longevity Economy: New Normal for Seniors

Growing old isn’t what it used to be. Once equated with becoming sedentary and living with increasing health problems, today’s seniors are proving that this stereotype is quickly becoming outdated. By 2050, there are expected to be 3.6 million people on the planet 100 years or older, an eightfold increase from current numbers. Living longer lives while enjoying good health essentially means that we are staying younger longer, and the arc of people’s lives stretches in a way that’s more than “70 is the new 60” or “40 is the new 30.” In Okinawa, Japan, as many as 1 in 2,000 of the island inhabitants are centenarians. Many there live by the principle of “ikigai,” which is loosely translated as “having a reason to get up in the morning.”

 

Ultimately, for people around the world a longer life means more to do and enjoy – as workers, retirees, and consumers. Many terms have been attached to this trend, including Longevity Economy, Healthy Aging, Active Aging Tech, and Age-tech, but they all point to big money. One prediction is for the global Aging Economy to reach $27 trillion by 2025. Not surprisingly, several of the established tech giants – such as Apple, Amazon, and Google – are already working in agetech business. Whatever business your company is in, it’s critical that you understand the changing roles seniors play in society and the economy. In this report, Webrain looks at the Longevity Economy: New Normal for Seniors and the evolving ways in which the older population earns, saves, and spends money.