From ‘demographic bomb’ to ‘silver tsunami’: Navigating global population shifts

Abstract

Just six decades ago, the world was experiencing remarkably high population growth rates, which led to the coining of the term ‘demographic bomb’ to describe concerns associated with population size. At the time, the global population was three billion. Since then, an extra billion people have been added every 12 years. However, the pre-eminent demographic challenge of the twenty-first century is population ageing, a global, irreversible and unprecedented trend. The number of people aged 65 and over has almost doubled since the turn of the century and currently accounts for 10% of the global population. An extra billion people are expected to age into the older category within the next 35 years. In Europe, half of the population is above 45 years of age, and the number of those above 65 years old is greater than the number of children under 15. Commonly referred to as the ‘silver tsunami’, it is feared that the increasing number of older people will have a destructive impact on economies and social systems. Never before have our lives been longer, our families smaller and our societies more multigenerational. The new reality of longevity requires a shift in how we approach ageing. This article explores ways to cope with the challenges of the silver era we are heading towards.