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CEOWORLD magazine - Latest - Special Reports - Global Readiness for an Aging Population: Who Leads and Who Lags?

Special Reports

Global Readiness for an Aging Population: Who Leads and Who Lags?

A comprehensive survey examining 143 low-, middle-, and high-income countries has unveiled varying levels of preparedness for the world’s rapidly aging population. The study assessed nations on their ability to support older adults in areas such as well-being, equity, and security, highlighting stark disparities in readiness.

The aging population reflects advancements in public health and medicine, with a significant reduction in premature deaths and better disease prevention. For instance, the probability of a baby born in 1950 in a high-income country reaching age 90 was only 4.8%; today, it stands at 26.7% and is projected to climb to 50% by 2060. However, the question remains whether societies are socially and economically prepared to address the challenges posed by this demographic shift.

Researchers from the National University of Singapore (NUS) and Columbia University developed a Global Aging Society Index to evaluate preparedness. Assistant Professor Cynthia Chen, the study’s lead author, explained that while high-income countries lead in readiness, many low- and middle-income nations, despite younger populations, are expected to experience rapid aging in the near future.

The researchers adapted their previous Index to suit countries across all income levels, refining and weighting five key domains:

  • Productivity and Engagement: Encouraging older adults’ involvement in paid or volunteer work.
  • Well-being: Providing healthcare tailored to the unique needs of older populations.
  • Equity: Ensuring an even distribution of resources and reducing disparities among older adults.
  • Cohesion: Maintaining intergenerational and social connectedness.
  • Security: Offering economic and physical safety for the elderly.

The study assessed 95.4% of the global population, finding that productivity and engagement scored lowest, followed by equity, well-being, and security. Cohesion ranked highest, with GDP levels significantly correlating with a country’s overall aging preparedness score.

High-income nations excelled in well-being, demonstrating longer healthy life expectancies, higher life satisfaction, and better universal health coverage. However, these populations also faced extended periods of poor health. Equity was more prevalent in high-income countries, where older adults had greater financial stability, food security, and educational attainment. Asia and Europe led in cohesion, with older adults enjoying strong social support and high levels of trust within their communities.

Switzerland, Norway, Denmark, Sweden, Iceland, and Singapore ranked among the top 10 nations. The U.S., in contrast, ranked 24th among high-income countries, trailing nations such as Spain and Estonia.

Chen emphasized that inadequate health and social security systems could escalate the financial burden on individuals and families, potentially causing widespread economic challenges. She suggested that countries prioritizing aging preparedness could benefit from reduced healthcare costs and harness the contributions of older adults to society.

Linda Fried, Dean of Columbia’s Mailman School of Public Health, highlighted the importance of challenging negative stereotypes about aging. Speaking at a TEDxBoston event, she encouraged viewing aging as a “superpower” and called for harnessing older adults’ experience to address global issues such as climate change, loneliness, and mental health.

The study underscores the need for a paradigm shift in societal attitudes and policy priorities, urging nations to capitalize on the potential of aging populations while addressing their vulnerabilities.

 

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CEOWORLD magazine - Latest - Special Reports - Global Readiness for an Aging Population: Who Leads and Who Lags?
Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at anna@ceoworld.biz