Daily Management Review

The Economist estimates number of elderly relatives in the world at 1.5 billion


According to The Economist's experts, the number of grandparents—older adults who are a part of kinship relationships—in the world increased from 0.5 billion in 1960 to 1.5 billion in 2023. According to the study, since 1960, the proportion of grandparents to children under the age of 15 has increased from 0.46 to 0.8. (that is, there are 80 older people for every 100 children).

The authors give a demographic forecast: "By 2050, we expect there will be 2.1 billion grandparents (representing 22% of all humanity), and grandparents will outnumber youngsters under the age of 15 by a little." Currently, grandparents make about 20% of the global population.

Analysts expect that in the future, when more women transition into paid jobs, this trend will enable a "social revolution." According to information from a University of Washington study, "living within 40 kilometers of a grandmother boosts the amount of participation in creating a career in married women with young children by 4-10%."

The primary trend for the global population, according to a December 2022 essay by Harvard economists for the International Monetary Fund, is aging. The rise of more persons in economic relations who are claiming social benefits and governmental support, according to The Economist, will result in a huge increase in government spending.

source: www.economist.com