Exploring the economic opportunities offered by activities and needs of older adults in Europe has become the focus of a new project conducted for the European Commission Directorate General for Communications Networks, Content & Technology by a consortium of Technopolis Group, Oxford Economics and Cbased. The work will provide strategic information and data needed to establish a reference framework for the development of a Silver Economy Strategy for Europe, building on existing regional, national and industrial initiatives across Europe.
Silver Economy views the ongoing demographic shift as a major opportunity not only for future economic growth but also to contribute to enhanced quality of life for older people and to stimulate social and cultural progress in Europe. Businesses are potentially unaware of the changing needs of their customers and there is a lack of suitable products and services on the market. There may also be barriers to develop and scale up new solutions for older people which are also financially profitable.
As a partner in this project, AGE will ensure that the real needs of older people are taken into consideration. We hope that the growth of the Silver Economy will be connected to a positive and socially inclusive identity for older adults in Europe.
The study is running until February 2017, and have the following objectives:
- Estimate the potential size of the European Silver Economy, from now until 2025.
- Provide overview of current and planned Silver Economy-related policy initiatives across Europe.
- Identify 10 realistic case scenarios that have the highest potential to create jobs and economic growth linked to demographic change.
- Develop EU-level policy recommendations focusing on how best to stimulate an emerging Silver Economy in Europe.