Dr. Keith Johnson, an Independent Economic Consultant in New Zealand was kind enough to send me a new report, "The Business of Ageing: Realising the economic potential of older people in New Zealand".
In 2011 the first of the baby boomers have reached the age of 65. Baby boomers expect their later years to be very different to their parents' generation. More are working into their 60s, they enjoy better health, are better educated and have more money to spend.
The report focuses on two opportunities for New Zealand's future growth. These are to:
- increase the number of older people who choose to remain active in the workforce; and
- tap into the growing mature consumer market.
Key findings
The report presents the results of new research on the projected future economic contribution of the growing older population. The report finds that:
- more older people will participate in the workforce;
- the economic value of older people's paid and unpaid work will increase;
- older people's contribution to tax revenue will increase; and
- the mature consumer market will become more important.
Where to next?
The report highlights the potential of older people and aims to encourage discussion amongst business groups, employers, NGOs, individuals and government agencies. It offers an alternative perspective to the often negative portrayal of the effects of population ageing on the economy.
