MONTHLY BAROMETER – WELLNESS EDITION
Aging is the most potent and enduring global trend and lies behind much of what is going on in economics and our societies. With the notable exception of Sub-Saharan Africa, longer lifespans and declining birth rates are now the norms almost everywhere.
The implications are broad and all-encompassing, ranging from the future balance of power between the US and China to the redesign of the social contract that binds societies together.
Taming aging has become the ultimate status symbol, with the “young-old” (those between 60 and 75) becoming much healthier and productive than just a few years ago. They may well turn standard economics (the long-held belief that aging depresses growth) upside down.
First, a rising number are keen to rework and work longer, finding in a professional activity a sense of purpose and a source of social connections. Second, these “mature” consumers expand new segments of economic activity in domains as varied as tourism (with cruises) or retail (for healthy products and premium brands). Evidently, all very positive for the wellness industry!