International Perspectives on an Aging Population

International Perspectives on an Aging Population
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International Perspectives on an Aging Population
The population in many regions across the globe are significantly growing older thus continually raising concerns in the 21st century. This unprecedented phenomenon showcases the changing dynamics in human populations that point to a myriad of changes going into the future (Bayar, 2021). With this trend expected to continue, more people in both developing and developing countries are expected to grow older. As a result, significant changes are foreseen to cope with the aging population including aspects of employment, economic growth (Magnus, 2012). The changes in population can thus be attributed to aspects of behavioral changes and other demographic shifts that ultimately lead to the need to revise policies and the overall outlook of populations.
The Concept of Population Aging
With an increase in population, the demographics are expected to change based on present situations in different regions across the globe. Therefore, an increase in the age structure of populations leading to an increasingly high representation of the elderly is called population aging (Magnus, 2012) (Khan, 2019). In this case, older populations grow at a faster rate as compared to other age groups. The United Nations estimates that the population of people aged over 60 years will grow by 56% to reach 1.4 billion people by 2050 from the present 901 million (United Nations, Department of Economic and Social Affairs, Population Division, 2015). This phenomenon has significantly far-reaching consequences not only to individual families but to entire economies especially due to the dependency burden. An increasingly older population thus shifts the social connections in the world with all sectors affected.
Industrialized countries are the hardest hit by population aging with global publicization showing an increasingly higher elderly population. Europe and North America have continually showed this trend with their absolute numbers doubling over short periods (Khan, 2019). The advanced aging seen in developed countries shows the differences in demographics that affect population growth and aging. Consequently, the phenomenon is expected to increase in developing countries as they rise and achieve higher economic growth rates.
Theories of Population Aging
A decrease in fertility rates has significantly impacted the shift in population aging across the globe. This decrease has led to a demographic transition with fewer children born starting from the 19th century in regions such as North America and Europe. The United Nations highlights that fertility rates have dropped from approximately 5 children per woman in the years 1950 to approximately 2.5 children per woman in 2015 (United Nations, Department of Economic and Social Affairs, Population Division, 2015). This shows a decline in fertility rates by half thus showing the huge impact on new births across the period. Consequently, the trend is likely to continue thus leading to fewer younger populations as older populations continue to age and increase in number.
Apart from that, the increased life expectancy especially in developed countries means that the elderly have the opportunity to live longer lives. With a decrease in mortality rates at both younger and older ages, individuals continue to live healthy lives well into their 70s. Life expectancy in regions such as Asia, North America and Latin America has significantly risen ranging between 71.6 years to 79.2 years (United Nations, Department of Economic and Social Affairs, Population Division, 2015). With more people expected to grow old, death rates significantly reduce showing a stark contrast especially since birth rates in developed countries are usually lower. As a result, very few new children are born leading to a lower population of the younger population. This longevity thus promotes an increase in population aging with the number of new births unable to counter the large number of the elderly.
Moreover, international migration also leads to population aging in select regions where immigration rates are higher. As a result, countries in Europe that receive significantly higher numbers of new immigrants who are younger. The increased inflow caused a change in the aging as these people integrate into the country’s systems (United Nations, Department of Economic and Social Affairs, Population Division, 2015). However, immigration only causes a temporary shift in population aging. This is because countries such as Japan, the United States and the Republic of Korea that have tried to replace the aging population by increasing the number of immigrants has been unable to offset the deficit.
Key Challenges of an Aging Population
Countries with an aging population face a myriad of challenges especially on skilled and experienced labour as more elderly people retire with little to no people to fill their positions. As a result, various sectors of the economy fail to fill up critical positions leading to increased labour costs, declining productivity rates and reduced global competitiveness. Such economic challenges may negatively impact a country’s ability to grow and develop based on the problems of population aging (Khan, 2019). More so, the issue of poverty significantly affects countries with a number of the elderly unable to provide for themselves. Without proper structures, the aging population may fall into poverty with no source of income due to their inability to work. Consequently, increasing poverty rates may affect the economic growth of a country especially in instances where a majority of eh sectors were dependent on this population in the workforce.
Apart from that, old people may majorly depend on others due to vulnerabilities associated with their age. As individuals grow older, their ability to support themselves declines due to factors such as poor health. Consequently, such individuals require extended care by both their families and the government to ensure that they can live comfortably. The availability of social protection cushions such elderly people who may not have any form of reliable income. The provision of perks such as pension, healthcare benefits and disability perks help support the aging population to become independent in a majority of cases thus ensuring adequate living conditions (Magnus, 2012). However, the majority of countries in Africa do not have the necessary capacity to provide income security through pension schemes. As a result, such low coverage affects the ability of the elderly to support themselves thus transferring the burden to their families and the government at large. Ultimately, this affects planning with the need to offer support to the aging population especially in cases where it represents a significant section of the overall population.
Additionally, aging populations face challenges with their health with declining capabilities to fight off diseases and conditions brought about by their age. With ...