THE AGING POPULATION REPRESENTS THE BIG OPPORTUNITY – 3 OBSERVATIONS Governments are concerned about aging populations. The pressures this will put on aged care costs, social services, and health care is staggering, and it will grow and grow. The cost to government will be enormous. At the same time, the opportunities for business will be […]

THE AGING POPULATION REPRESENTS THE BIG OPPORTUNITY – 3 OBSERVATIONS Governments are concerned about aging populations. The pressures this will put on aged care costs, social services, and health care is staggering, and it will grow and grow. The cost to government will be enormous. At the same time, the opportunities for business will be enormous. Despite the overwhelming focus of marketing to date on younger age groups, people over 50 are growing in number – as indeed are the number of people over 100. Between 1994 and 2014 the percentage of Australians aged 15 – 64 decreased from 66.6% to 66.5% of the total population. At the same time the percentage of the population aged 65 years and over increased from 11.8% to 14.7%. What is more, with falling fertility rates, longer life expectancies, and managed migration, this trend is likely to accelerate. With some notable exceptions, populations around…