Even though the largest number of the aging population might seem interesting, it has multiple set-backs. The country faces deteriorating fiscal balance, changes in investment and saving patterns, inadequate welfare system, decline in productivity and economic growth.
Here is the list of countries who has the largest aging population in the world
1. Japan (27% population above 65)
Japan has the highest number of elderly citizens than any of the countries in the world. Although Japan has a rapidly aging population, their labour force is shrinking which is hampering their economic growth.
2. Italy (23% population above 65)
Italy is the second largest in the aging population because of its rising life expectancy rates, falling birth rate and considerable decline in the immigration.
Italian seniors are social and they don’t often stay at home.
3. Portugal (22% population above 65)
There has been a proportionate growth in the aging population of Portugal and it is expected to continue. According to the Feed Magazine, they have seen a growth in their aging index since 2000.
4. Germany (21% population above 65)
Germany has seen a fast pace rise in its aging populations due to the low fertility rates and increasing life expectancy. Additionally, the German population, especially the elderly are funded by the public health care insurance system.
5. Finland (21% population above 65)
Finland ranks fifth among the fastest aging population worldwide. Researchers expect the population of this rapidly rising aging population country to increase to 28 percent by 2050.
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