Aging Populations: A Global Success Story with New Challenges
Healthier longevity is one of humanity’s most significant achievements, driven by dramatic increases in life expectancy worldwide. By 2050, one-third of the global population will be over 60 years old, with 80% living in low- and middle-income countries (LMICs). However, this demographic shift brings complex challenges that impact economic growth, healthcare systems, and social protections. For LMICs, the speed of aging is unprecedented. For instance, while France took over a century to double its population aged 60 and above from 7% to 14%, Vietnam will achieve this transition in just 15 years.
Despite resource constraints, LMICs have a unique advantage—time to learn from the experiences of high-income countries and craft tailored solutions. The World Bank emphasizes a proactive, holistic approach to ensure that aging populations become an asset rather than a liability. A recent analysis of World Bank initiatives highlights three pivotal lessons for LMICs: addressing economic and fiscal challenges, fostering multisectoral collaboration, and adopting a lifelong perspective on aging.
Boosting Economic Growth Amid Demographic Shifts
Aging populations reduce the workforce size and productivity, threatening economic growth and fiscal stability. Simultaneously, the rising demand for healthcare, pensions, and long-term care strains public resources. To counter these trends, governments must prioritize policies that enhance labor force participation and productivity. 
For example, Thailand’s World Bank-supported initiative promotes productive longevity by encouraging female workforce participation, facilitating lifelong learning, and leveraging migration. Other countries, like Vietnam and Uruguay, are exploring similar strategies to mitigate workforce shortages and sustain economic growth. Proactive measures, such as modeling long-term care and pension expenditures, enable policymakers to identify sustainable reform scenarios while protecting vulnerable populations.
Multisectoral Collaboration: Breaking Down Silos
Aging is a multifaceted issue requiring integrated solutions. Siloed approaches often fail to address the interconnected challenges of an aging society. Instead, a multisectoral agenda can unlock opportunities that span pensions, healthcare, and labor markets.
For instance, Macedonia’s investment in home- and community-based care services improves access for older adults and enables informal caregivers, especially women, to rejoin the labor force. Similarly, Romania has adopted a comprehensive approach to address aging, combining reforms in healthcare services, long-term care, and pensions. Such holistic strategies demonstrate that collaboration across sectors yields significant benefits for individuals and society.
A Lifelong Perspective on Aging
Aging should not be viewed as a series of isolated life transitions. Instead, it is a continuous process that starts early in life. Investments in preventive healthcare and education build human capital and prepare individuals for longer, more productive lives.
In Nepal and Pakistan, World Bank programs focus on foundational skills and lifelong learning, empowering future generations to navigate aging more effectively. Preventive health measures, like early screenings and wellness programs, reduce the need for expensive long-term care while improving overall quality of life.
Addressing Gender Disparities in Aging
Gender inequality complicates aging-related challenges. Women, who often shoulder the bulk of caregiving responsibilities, face reduced income and pension contributions, exacerbating disparities. Policymakers must address these inequities through innovative social policies. For example, Chile’s pension system compensates for maternity breaks, offering a model for mitigating gender gaps in retirement security.
The Road Ahead: Collaboration and Innovation
As LMICs prepare for a future where over one billion people aged 60 and older will reside in their borders, bold and innovative policies are essential. By fostering international collaboration and prioritizing comprehensive social policies, nations can transform aging from a potential burden into a source of resilience and growth. Just as it takes a village to raise a child, creating age-friendly societies requires collective effort at local, national, and global levels.
