Asia’s Aging Advantage: What an Aging World Can Learn from Asia
As the world’s population ages, what sets Asia apart is both how fast it is aging and the extent to which older adults remain part of the fabric of their communities as they age, creating societal and economic benefits.
Today, Asia is home to a disproportionate number of older adults.[1] And in just 30 years, one in five people in Asia will be 60 or older, making it the most aged continent in the world. To put the pace of this demographic shift into perspective, it took Europe more than 100 years to go from aged to superaged, which Asia will accomplish in only 30 years.[2]
Older adults in Asia have a profound level of engagement with their communities, and a desire for even higher levels of engagement. Their participation can be classified into four groups: volunteering, learning, working, and community programs. The McKinsey Health Institute recently estimated the size of this opportunity—financial and societal—from new data on older adult health, behaviors, and perspectives as they age. The value of boosting levels of participation in Asia to match desired levels is estimated to include up to a 15% increase in annualized GDP and up to an additional 136 hours of volunteering per older adult per year.
Our recent publication shows how communities are already making the most of this aging transition. Like the recent Netflix series “Live to 100: Secrets of the Blue Zones,” it shows how Asia is the leading the way. The region has already made great strides with community-based programs that could serve as blueprints for success in other geographies. For example:
Thailand, one of the world’s fastest aging countries, has long prioritized lifelong learning for older adults, explicitly mentioning the objective in both the 1999 Declaration of Thai Senior Citizens[3] and again in the 2nd National Plan on the Elderly.[4] In a 2017 situation report, the Thailand government reported that an estimated 64,000 older adults were enrolled in over 1000 Senior Citizen Learning Centers, established by the Department of Older Persons. Lifelong learning was promoted through marketing the potential benefits of continuing education, integrating lifelong learning through existing channels to older adults, and placing an emphasis on discussion and knowledge exchange as compared to lecturing. The objective of providing continuing education through these education centers is to share knowledge about self-care, vocational training, financial planning, law, and new information technology, and ultimately, to help older adults live a quality life.[5]
The Singapore government is investing in urban and community planning for older adults. The Health District @ Queenstown is a first-of-its kind project to develop an age-inclusive residential district within the city. The pilot project is situated in Queenstown, a district in Singapore where almost a quarter of residents are aged 65 and above.[6] Announced in October 2021, the project follows principles of integrated planning and design, using community-driven programs and affordable technologies to help residents take better care of their health and age in place with dignity (for example, enabling seniors with early-stage dementia to live independently for longer). The goal is to encourage "purposeful longevity" through opportunities for seniors to engage in paid work, volunteering activities and lifelong learning.[7] Success in Queenstown could lead the country to scale the program into other towns across the city.[8]
In South Korea, older adults can engage in meaningful civic and community roles. In some places, they are trained to act as mediators in resolving neighborhood conflicts, such as disputes over noise levels, property lines, or parking. These programs aim to promote a harmonious community by embracing the wisdom and life experience of older adults. They receive training on conflict resolution techniques, active listening, and communication skills. Programs operate on a community level, with older mediators working closely with local police and community organizations.
Countries and communities can look to programs like these for inspiration on how to make the most of their own shifting demographics. There are huge health and economic opportunities to be realized in the years and decades to come. Asia is charting a path; the rest of the aging world should take notice.
Gautam Kumra is the Chairman of McKinsey’s offices in Asia, based in Singapore. Ellen Feehan is a partner in McKinsey’s New Jersey office.
