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Asia will be home to 60% of world's over 65s by 2030: Deloitte
ASIA will be home to 60 per cent of world's over 65s by 2030, generating a growth cluster of new business opportunities, said Deloitte's latest Voice of Asia report released on Tuesday.
The third edition of the report said that those in Asia aged over 65 will grow from 365 million in 2017 to more than 520 million in 2027.
Chris Richardson, Deloitte Australia economist, said: "Ageing populations may well be challenging to some nations, but they will also present some incredible business opportunities within those same nations.
"Our analysis shows that ageing will produce some very large winners at the industry level, particularly in Asia."
The report also said that the big accelerators driving industry opportunities in an ageing Asia, with each building on the other, are:
- a fast-ageing Asia - a billion people in the region will be aged 65 and over by the middle of this century;
- money spent by and on ageing population will grow even faster than Asia ages due to the impact of new technologies and the ongoing management of increasing chronic conditions; and
- private sector opportunities will grow even faster still, because stretched government budgets mean the share of health-related costs borne by taxpayers is likely to decrease in the decades ahead.