Aging in East Asia and Pacific

EAP-Aging--panosThe World Bank has just published the report “Live Long and Prosper: Aging in East Asia and Pacific.”

The study shows that East Asia is aging faster than any other region in history, which could lead to a steep drop in the size of its workforce and sharp increases in public spending on pensions, health care and long-term care in the coming decades.

36 percent of the world’s population ages 65 and over, or 211 million people, live in East Asia, the largest share among all regions. By 2040, the graying of the population could shrink the number of working-age adults by more than 15 percent in Korea and more than 10 percent in China, Thailand and Japan. In China alone, that would translate into a net loss of 90 million workers.

The report examines how aging may affect the drivers of economic growth in the region, as well as patterns of public spending. It reviews current policies and provides recommendations on how countries with diverse demographics can address challenges in the labor market, social security systems, and health and long-term care. It also looks at how older people currently live, work and retire across the region.

Download Live Long and Prosper: Aging in East Asia and Pacific here.