A. M. 
Can you imagine creating a successful business because the world’s population is aging? Well, it is possible. If your business has the vision to focus on people aged 65 and older, you will surely have many clients soon.
A new document prepared by the Economic Commission for Latin America and the Caribbean (ECLAC) analyzes the economic implications of accelerated population aging in the region, highlighting the challenges for economic growth, the labor market, and the sustainability of social policies, as well as the opportunities to boost various economic sectors that this phenomenon represents.
According to recent ECLAC estimates and projections, in Latin America and the Caribbean, in 2024, there were around 68 million people aged 65 and older living in 2024, representing 10.2% of the total population.
By 2030, this figure will increase to 82 million people over the age of 65, equivalent to 11.9% of the population. It is estimated that by 2050, this age group will reach 138 million, representing 18.9% of the regional population.
To date, El Salvador has seen growth in tourism. In fact, it is investing in medical tourism with the construction of a Health City, where residents can not only come to treat their ailments but also enjoy a wonderful vacation. However, there are other opportunities. In European countries, luxury and modest housing complexes have been created, all focused on housing seniors. These complexes include their own homes and in-house hospitals, entertainment centers, churches, and even cemeteries.
José Manuel Salazar-Xirinachs, Executive Secretary of ECLAC, points out that population aging is profoundly transforming economic and social structures, simultaneously generating challenges and opportunities.
He points out that developed regions such as Europe, Latin America, and the Caribbean have experienced a significantly faster rate of aging, which is both worrying and challenging.
The document, presented by Simone Cecchini, Director of the Latin American and Caribbean Demographic Center (CELADE) – Population Division of ECLAC, warns that the region has not fully taken advantage of the window of opportunity for economic growth, poverty reduction, and development offered by the first demographic dividend.
“Now that this dividend is about to expire, amid less favorable demographic conditions and with fewer fiscal space available, it is urgent to adopt public policies that allow us to address the challenges of accelerated aging, as well as take advantage of new economic opportunities”, he emphasizes.
The report highlights that population aging can generate opportunities for economic growth, driven by increased domestic consumption among older persons, their greater labor inclusion, and the development of emerging sectors associated with the so-called “silver economy,” such as health and the care economy, the financial and insurance sectors, the pharmaceutical and biotechnology industries, technology and digital services, tourism, and adapted housing.
“Harnessing this full potential will depend largely on the ability to address the inequalities, vulnerabilities, and discrimination affecting older persons and on transforming health and social protection systems so that they focus on their prevention and well-being”, it states.
Through an analysis of the demographic dividend and the use of the National Transfer Accounts methodology, the report assesses the projected impacts of aging on economic growth and highlights the role of productivity and labor force participation—especially of women and older persons—as key factors in mitigating these effects.
It also examines innovative public policies in the Republic of Korea and other countries around the world, which can serve as a reference for Latin America and the Caribbean.
“Taking advantage of the economic opportunities of aging requires taking demographic change into account in public policies, investing in health, social protection, and care, and recognizing the rights and contributions of older persons from a life-cycle perspective”, concludes the document, which was prepared within the framework of the cooperation agreement between the Republic of Korea and ECLAC.
