Credit Suisse Report: «Tidal Demographic Change Expected»
At the Credit Suisse Global Philanthropists Forum 2017 in Singapore a report focused on challenges of the aging was released – turning a potential silver tsunami into productive longevity.
This year’s Forum, with the theme «Healthcare Giving in Asia», builds on past years’ forums by combining effective giving approaches with real-life case studies and discussions from fellow philanthropists. With healthcare being one of the main causes the banks clients actively contribute to, the Forum agenda is designed to highlight the latest developments with healthcare philanthropy in Asia.
This Forum represents Credit Suisse’s commitment to provide clients with integrated solutions to meet their philanthropic needs, and to drive impactful giving across the Asia Pacific region.
Rapidly Aging World
«Featuring thought leaders in the field of philanthropy and renowned private philanthropists, attendants can look forward to a unique, meaningful and informative experience, and gain insights on how you can be socially responsible in effective and strategic ways,» Franceso de Ferrari (pictured on top), Head Private Banking Asia Pacific, said in his opening speech.
Credit Suisse recently conducted research on the rapidly aging world. Some of the data highlighted the formidable tidal demographic change that will sweep over the world in the next three decades, for instance.
- By 2050, the population above 60 years old will rise to 2.1 billion globally from 900 million in 2015.
- Unlike today, by then 80 percent of all people above 60 years will live in emerging markets.
- Life expentancy will increase by one year in every five years, so that more than half of today's teenagers between 12 to 17 years now, are expected to live to 80.
- While today there are seven workers (20 to 64 years) for one elderly person above 65, there will be only 4.9 workers in 2030.
- In the U.S. today, 80 percent of older people have at least one chronic disease, and an estimated 75 percent of healthcare spending ist on the elderly. This pattern is likely to be replicated across many parts of the world.
Potential Silver Tsunami
Gan Kim Yong, Singapore’s Minister for Health, is the Forum’s Guest of Honor. In his speech he said: «Singapore's population is ageing like many developed countries, but at a faster pace. By 2030, one in four Singaporeans will be aged 65 years and above, about double that of today. If we can individually achieve longer healthy and productive life years in tandem with expansion in our total life years, we can collectively turn a potential silver tsunami into productive longevity.»
«The government will do more in the ageing and eldercare space but we will continue to need the support and partnership of the philantropic sector to meet the needs and aspirations of our seniors together,» he added.
