EU population to peak in 2029 before long-term decline
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
BRUSSELS: The population of the 27-nation European Union will peak in 2029 before falling in the coming decades, according to a report published on Tuesday (Jul 14) that puts a spotlight on the major challenges of an ageing citizenry.
Today there are 450.6 million people, but researchers say this will peak at 453.3 million in 2029 before a slow long-term decline.
The population will fall to 398.8 million people by 2100, an overall drop of 11.7 per cent and a level that was last experienced in the 1970s.
Europeans are living longer than ever before thanks to vastly improved healthcare, and better life and social conditions.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
But an ageing population poses challenges for society and the EU economy.
The EU executive's Joint Research Centre said life expectancy at birth reached 81.5 years in 2024.
By 2050, nearly one in three EU residents will be aged 65 or older, compared to one in five today, the centre said.
By 2100, life expectancy could exceed 90 years for women and 86 for men.
Such trends present "significant challenges", the EU said, including labour shortages, strained public budgets, and pressure on care and education systems.
It is, however, not all negative as the report points to the rise of the "silver economy" - a growing market for goods and services for older citizens.
"We are living longer, healthier lives than ever before - one of our greatest achievements. But demographic change is reshaping our societies, our economies and our labour markets," EU commissioner Dubravka Suica said in a statement.
"We must act now to turn this transformation into an opportunity," she added.
The EU insists the bloc must boost productivity and cut unemployment to offset the effects of a shrinking workforce.
Currently around 20 per cent of working-age Europeans are outside the labour force, the report said, while some eight million young people are neither in employment, education, nor training.
The researchers said migration can help offset some effects of Europe's demographic change, but it would have a limited impact on "fully" addressing the challenges posed by an ageing population.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app