Demographics and Shifting Social Values What will be the impact of changing demographics? • According to the United Nations, World population is projected to grow by 31.8% to 9.6 billion by 2050. • Much of the demographic change up to 2050 will take place in less developed regions. Collectively, these regions will account for 98% of the expected increment to world population in this period. • Asia, where population is expected to increase by 0.8 billion through to 2050 and Africa, where the population is expected to grow by 1.3 billion will be the largest contributors to global population growth Population by continent in 2014 and 2050 (bars show relative change) Sources: United Nations, World Population Ageing, 2013 United Nations, World Population 2300 • The median age of the population will continue to increase globally from 26 years in 2010 to 36 in 2050. • In developed regions, the share of the population aged 60 and over is projected to increase from 23% in 2013 to 32% in 2050. • By 2040-2050, life expectancy is projected to increase from 78 to 83 years in more developed regions and from 68 to 75 years in less develop regions. Longer life spans will contribute to the future aging in all major regions of the world. • Changing demographics will have wide ranging consequences on labour productivity, healthcare spending and many other segments of the economy Port 2050 Scenario Update Initiative - 2015 42