Aging Well in Asia: ADB


Recently Asian Development Policy for the year 2024 'Aging Well in Asia' Released a report titled.

related facts

  • The report highlights aging trends and Poverty, health and social services It was shown to have far reaching effects on various socio-economic aspects including.

What is demographic dividend?

  • Demographic dividend refers to the economic growth that can occur when a country's population increases in number of dependents. There should be more people of working age (between 15 and 64 years) than those (less than 14 years and more than 65 years).
  • Demographic Gifts: Some experts consider this situation 'Demographic gift' They say.
  • To take full advantage of this, young people need good education, proper nutrition and access to health care, including sexual and reproductive health services.

Key findings of the ADB report

  • Increase in old age dependency ratio: The ADB report predicts a significant increase in the proportion of people aged 60 and above (old-age dependency ratio) in developing Asia, including India, by 2050.
    • Unique situation of India: In India, the old age dependency ratio is expected to increase from less than 20% in 2022 to more than 30% by 2050.
      • The data is based on analysis of UN data by ADB.
  • Declining Demographic Dividend: The report acknowledges that young economies such as India and Indonesia will still benefit from the demographic dividend, although it will be less significant than before.
  • India's per capita GDP growth: The increasing old-age dependency ratio is expected to slow economic growth. An analysis shows that India's per capita GDP growth is expected to decline by 0.053 percent between 2031-2040.
  • Changing Demographic Scenario: The report confirms that the favorable demographics that fueled past economic growth in developing Asia will become a challenge in the coming decades.
  • Silver Dividend Potential: The report calls for improving the well-being and health of older adults by significantly increasing their ability to work, 'Silver Dividend' Methods like making have also been highlighted.
    • Silver Dividend in action: If this “silver dividend” of underutilized senior workforce is harnessed, India's GDP growth rate could see an increase of 1.5 percentage points.
  • Unlocking Growth through Senior Involvement: Economic growth can be boosted by harnessing the untapped potential of people aged 60-69 years.

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