Ageing, urbanisation and migration remain the major drivers shaping the global population. The number of seniors worldwide was increasing in 2022 and is expected to continue growing to 2040. The number of births is declining globally due to falling fertility rates, later marriages and other factors influencing lifestyle changes. The end of COVID-19 restrictions, political unrest and the search for better living conditions continue to encourage increasing mobility and migration around the world.
This report comes in PPT.
As Gen Alpha were born into a digital world, they continue to drive solutions with their desire for instant satisfaction and research and review capabilities. Despite the limited purchasing power that this cohort had in 2022, their prominence and spending capabilities will increase significantly by 2040, when they will become the largest generational grouping.
Due to higher average purchasing power and concentration of citizens living in cities, urbanisation will be a major driver of consumption and lifestyle trends. The expansion of African cities will further drive urbanisation, with both Luanda in Angola and Dar es Salaam in Tanzania set to reach megacity status by 2040. However, rapid growth is accompanied by several challenges, most notably around affordable housing, infrastructure development and access to public transport.
Global birth rates are dropping, driven by factors such as the rising cost of living, female participation in the workforce, higher divorce rates and general postponement of childbearing. In several leading Asian economies, low fertility is threatening economic stability due to future labour shortages, weaker consumer demand and lower productivity.
Challenges around prevention and treatment of disease for the ageing population persist globally. The dynamic growth of seniors aged 65+, coupled with low birth rates, will threaten the social welfare systems of a number of economies. Opportunities do emerge, however, as tailored products and services for the elderly in areas such as healthcare and leisure continue to develop.
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