Mamta Badkar writes for Business Insider:
The number of people over the age of 60 is expected to double from 841 million in 2013, to over 2 billion by 2050, according to the UN. What's more this has been accompanied by falling global birth rates.
In fact, the global share of people over the age of 60 has gone from 9.2% in 1990, to 11.7% in 2013 and is expected to hit 21.1% in 2050, according to Bank of America's Sarbjit Nahal and Beijia Ma. The number of people over the age of 60 (older persons) is set to exceed the number of children for the first time, by 2047.
Red area show sectors where more than 20% of the population is expected to climb to over 20%. |
By design. Refer to Jaffe memo.
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