Silver Economy: Population aging brings business opportunities

The silver economy moved US$ 15 trillion worldwide in 2020

By 2050, one-fifth of the world’s population will be 60 years old or older — that’s more than 2 billion people. In 2030, the number of elderly people will exceed the total number of children between zero and 14 years old.

“The Silver Economy”, a study carried out in 2018 for the European Commission by the Technopolis Group and Oxford Economics, notes that in 2015 in Europe, 39% of the population – 199 million people – was over 50 years old and spending on products and private services amounting to approximately € 3,300 billion. An estimate that in 2025 it is expected to reach 222 million people, equal to 42.9% of the European population, with a spending capacity of approximately 5,000 billion euros.

In this scenario, the so-called silver economy, the set of products, services and solutions aimed at individuals over 60 years of age, has gained prominence. To give you an idea, according to the Harvard Business Review, this market moved US$ 15 trillion in the world in 2020.

In many countries we still have a movement of opening companies for this discovery. Many have not yet managed to perceive opportunities. The numbers we have are already relevant, but they will still grow much more. The future perspective is of a growing market both from the point of view of entrepreneurship and large companies that end up creating new products, services and solutions for this audience.

So this shows us the great potential that this sector of the economy has for new investors. Maybe it’s the opportunity to check if this is not the way to start a new business