Demographic Change, Productivity, and the Role of Technology
Video | 13 November 2019
The theme chapter of the Asian Economic Integration Report 2019/2020 reviews the trend of demographic transition across Asia and the Pacific and examines the effects of aging on productivity and economic growth. It also explores the potential of technology to boost productivity in aging economies and discusses how innovations can help turn demographic challenges into opportunities.
The Asian Economic Integration Report reviews the progress of Asian governments’ efforts to integrate their economies and improve cooperation on a variety of levels. The Asian Economic Integration Report is produced annually, and continues the work of the Asian Economic Integration Monitor starting 2015.
Asia is aging rapidly.
The number of people aged 65 and over will more than double by 2050.
Those who work will also change.
14% of today’s working age population are 65 or older. It will be 20% by 2050.
The average age of workers will also increase at varying speeds.
The working age population declined in 3 economies, and it will contract in 9 more.
Older workers will be more skilled, better educated, healthier, and will retire later.
Lower fertility and higher investment per child increased the average years of schooling.
In the last 2 decades, life expectancy has increased by 11 years. By 2050, 4 more will be added.
New technology will help more people be productive, regardless of age.
It will both substitute and complement the workforce.
It will make work more flexible.
And will continue to support education and lifelong learning.
How can technology support a longer and productive life?
To find out, read the Asian Economic Integration Report.