This is not just an issue for developing countries. Demographers in the United States have sounded the alarm about the need to make long-range plans in dealing with a large elderly population.
With that increase in older folks typically comes higher medical expenses, higher long-term care costs, more prevalence of disability, a reduction in income-tax collections, slower labor force growth and possible slower gross domestic product growth.
It’s obvious more has to be done on many levels to make sure the country is ready for this dramatic shift in demographics. Housing, tax collections, health care and employment are all affected. Community and government leaders need to plan for the future, taking steps to make sure preparations are made for a graying population.