Silver economy – the new development paradigm of ageing Europe  Cover Image

Srebrna gospodarka – nowy paradygmat rozwoju starzejącej się Europy
Silver economy – the new development paradigm of ageing Europe

Author(s): Ewa Sobolewska-Poniedziałek, Anna Niewiadomska
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: silver economy; ageing of society; economic growth; demographic dividend

Summary/Abstract: For several decades heated discussion in Europe have continued on the causes, course and consequences of demographic changes. The dynamics of changes varies across the continent, but the direction is consistent. The analysis of transformations already recorded in the age structure of European societies and the available population projections, clearly indicates that many countries in the region are experiencing or will experience the increased dynamics of ageing of the population. This process from the economic perspective is seen mainly in terms of problems for economic growth and public finances. On the one hand, what raises fears are the increasing costs of maintaining a growing number of “non-productive” sectors of the population and aggravating social transfers through the system of public finance. On the other hand, low birth rates accompanied with the increasing duration of life, contribute to the emergence of labor shortages and the ageing. In search of answers to the question on how to sustain economic growth in the new demographic realities more and more attention is directed to the so-called silver economy, underlying positive approach to ageing population. Treating this process as an opportunity and not just a challenge stems from the belief that ageing societies will create new opportunities for economic development through the creation of demand for new products and services or their adaptation to the needs of the elderly, as well as increased activity of this group. The aim of this study is to present the essence of silver economy, which is a relatively new vision for Europe. The main premise of interest in this concept is growing awareness of inevitability of demographic changes among policy makers and researchers. In order to determine their scale and regional disparities were used actual data available and forecasting, prepared by the UN Population Department. The intention was to show the challenges and opportunities arising from changes in the age structure of the Old Continent. To achieve this objective the comparative analysis method and desk research were used. The first European experience with silver economy implementation suggests that an increase in the number of people as elderly in the population can become the beginning of a new path of development for businesses. In this paper the concept is acknowledged that development strategy taking into account the needs of an ageing population is conducive to improving the quality of life not only of the elderly, but also of other members of the population. The analysis draws on, among others, the Japanese experience as the confirmation. We must, however, remember that turning threats into opportunities requires an understanding of the essence of the relationship between the economics and the demography. For this reason part of the study was devoted to highlighting this very issue. In conclusion it can be stated that growth opportunities stemming from the ageing of the populat

  • Issue Year: 2015
  • Issue No: 07
  • Page Range: 65-81
  • Page Count: 17