Case study on connected health: rapid expansion Many of these areas will however need new standards and cross-policy action to facilitate their growth and earlier realisation of benefits for older people.
Captureit plus drivers#
Generally, the European Silver Economy will rewrite the rules about market drivers in existing sectors as well as create wholly new industries, at the intersection of demographic and technological change, with major export potential. The study finds that sticking points can be overcome: "With macroeconomic rationale and policy stimulation, the Silver Economy will grow through a broad range of novel concepts and areas of interest, from connected health to smart transport." Overcoming barriers with policy stimulation and macroeconomic rationale domestic robotics) or otherwise do not work efficiently enough (e.g. In many cases markets are only just developing (e.g. One of them is information failure whereby industrial actors and service providers have been slow to recognise the impact of changing demographics and shifting consumer needs on their markets.Īnd: "Many innovative solutions introduced in the market are not progressing further from niche products as a result of market uncertainties, pricing issues and established business models." "However," write the study experts, "there are sticking points, which act as a brake on market-led developments, and which warrant a coordinated policy response." Looking at the potential of Europe’s Silver Economy through to 2025, several sectors are projected to grow strongly. This would be equivalent to 32% of EU GDP and 38% of the Union’s employment. The study experts forecast the contribution of the European Silver Economy to GDP to reach €6.4 trillion and 88 million jobs by 2025. Based on the study's assumptions, it has the potential to expand by approximately 5% per year up to 2025, to €5.7 trillion.
Official population projections suggest the Silver Economy will expand steadily over the next 10 years, across the EU. The study estimates a baseline value of €3.7 trillion (2015) for Europe’s Silver Economy, primarily comprising private expenditure by older people (50 plus) on various goods and services, from housing to recreation. Intended to aid the Commission in its development of a European strategy, this study is also relevant to other policy makers in European member states and regions as well as industry decision makers. According to the study, a supportive policy environment, with the right incentives and support measures will be key to facilitate this transition. Next to being profitable for businesses, the Silver Economy should be connected to a positive and socially inclusive identity for older adults in Europe. (Continue reading underneath infographic) The Silver Economy has caught the attention of policy makers and economic operators alike: the ageing population promises more economic growth and jobs.
0 kommentar(er)
