Across the Pond: Navigating the longevity opportunity
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People around the world are living longer than ever before, and by 2050 the number of people aged 65 and over is expected to double to 1.6 billion, representing nearly one in six people globally. This unprecedented demographic shift is set to reshape economies, markets, and the w
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4 itemsAcross the Pond: Navigating the longevity opportunity
Entering the age of the older consumer
The desk interprets the emerging trend of an aging consumer demographic in the U.S. as a pivotal shift for economic conditions and consumer spending patterns. As illustrated in Bank of America's recent commentary, the proportion of Americans over 60 is projected to increase from around 20% in 2025 to nearly 30% by 2055. This substantial demographic shift, driven by longer life expectancies and retiring baby boomers, implies that older consumers will not only wield significant disposable income but will increasingly dictate consumer market dynamics. Per the full note [source], with their substantial wealth and leisure time, this demographic could shape spending trends across various sectors.
Demographics: The market impact to 2030
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