The Asian Development Bank (ADB) reports that the developing nations of Asia and the Pacific are ill-equipped to meet the needs of their rapidly aging populations.
The region’s growing elderly population faces numerous challenges, including low pension coverage, health issues, social isolation, and limited access to essential services. Urgent and comprehensive policy reforms are required to ensure the welfare of older individuals, according to ADB report titled “Aging Well in Asia: Asian Development Policy Report.”
By 2050, the number of individuals aged 60 and above in developing Asia and the Pacific is projected to nearly double, reaching a staggering 1.2 billion, approximately a quarter of the total population. Therefore, there is an urgent need for adequate pension and welfare programs, as well as improved healthcare services.
The report also emphasises “silver dividend,” which is additional productivity from older individuals, potentially increasing the region’s gross domestic product by an average of 0.9%.
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