New European Commission study on silver economy published
If ranked among sovereign nations, the European Silver Economy (the economy of the population over 50) would currently be the third largest economy in the world, behind only the USA and China. And it will only continue to grow. A new European Commission study conducted by Technopolis and Oxford Economics explores its concrete economic potential and lays out steps how to capture it fully.
Over the past years, the Silver Economy has caught the attention of policy makers and economic operators alike: the ageing population promises more economic growth and jobs. The study estimates a baseline value of €3.7 trillion (2015) for Europe’s Silver Economy, primarily comprising private expenditure by older people (50 plus) on various goods and services, from housing to recreation.
Next to being profitable for businesses, the Silver Economy should be connected to a positive and socially inclusive identity for older adults in Europe. According to the study, a supportive policy environment, with the right incentives and support measures will be key to facilitate this transition. Intended to aid the Commission in its development of a European strategy, this study is also relevant to other policy makers in European member states and regions as well as industry decision makers.
Read more here.