Silver Economy
Opportunities lie behind the corner
Little is known about the opportunity that a European ageing society offers in economic terms. To fill up this gap, the European Commission has recently published a new web page that aim to shed some light on this sector and provides some interesting information and figures.
The Silver Economy covers new market opportunities arising from public and consumer expenditure related to the rights, needs and demands of the (growing) population over 50. Merrill Lynch estimates the global Silver Economy will grow from $7 trillion per year to $15 trillion by 2020 (see The Silver Dollar – Longevity Revolution Primer ). Public spending on ageing in the EU accounts for 25% of GDP and 50% of general government expenditure and is projected to grow by 4% of GDP until 2060.
The next steps to take forward the Silver Economy Strategy in Europe?
- A call for a study on Silver Economy market opportunities to identify specific actions. This study will offer an overview of Silver Economy related initiatives, it will develop ten promising Silver Economy cases where ICT and innovation can create new jobs and economic growth, and it will develop policy recommendations at EU level regarding how to grow the European Silver Economy. Expected start October-November 2015.
- Follow-up discussion on a European Accelerator Initiative for innovation in Active and Healthy Ageing at the AAL Forum 2015
- Implementation of the EIP-AHA Scaling-Up Strategy
