The silver economywhich today is the fastest growing globally, has great potential in terms of consumption, job creation, innovation and development. Countries like Japan They have already adapted their policies to integrate older people into the labor market and adjust health services to their needs. Nations like Spain and Germany have created financial products for this segment.
The silver economy or Silver Economy, in English, It is an economic, inclusive activity that seeks to satisfy the needs of those over 50 years of age..
Estefanía Grajales, organizer of the Silver Summithighlights that promoting the silver economy in Colombia and the region is key to adapting our economies and taking advantage of the value of a growing population, creating opportunities for all ages. Grajales is co-founder of Auroraan organization created this year in Colombia to face the challenges of aging and promote the inclusion of older adults.
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Senior Adult
According to the Inter-American Development Bank (IDB)aging in Latin America will generate challenges, but also opportunities for economic development based on productive longevity. The IDB defines the silver economy as one that focuses on services and products for people over 50 years of age.
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The European Commission defined it in 2018 as the set of economic opportunities related to the population over 50 years of age and the IDB as “a part of the global economy linked to the demographic change produced by the aging of the population whose focus is on the needs and demands of older adults”.
He believes that today’s older adults “They have more possibilities of being able to continue working, studying, consuming and that they enjoy better physical conditions than those of the elderly from decades ago.”.
Senior Adult
This demographic change brings challenges such as the increase in demand for pensions, health and long-term care. However, it also opens the door to new business opportunities and ventures, given that today’s seniors have better health and greater possibilities of remaining active in the workplace than in past decades. Additionally, this economy can foster gender equality, as women, who on average live longer than men, represent a significant percentage of the older population in the region.
Colombia and the silver economy
In Colombia, the Bogotá Chamber of Commerce has launched a program to develop the silver economy, encouraging the development of products and services aimed at older adults as a growing market niche. The silver economy already represents 12.2% of the country’s GDP, reflecting its strategic importance.
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The Silver Summit in Bogotá will bring together national and international leaders to analyze the challenges and opportunities of aging in the labor market and economy. According to Grajales, This event seeks to educate entrepreneurs and decision makers, creating a space to connect actors from different sectors that promote the longevity agenda..
Older adult
The event also aims to promote the inclusion of the elderly in the economy, raising awareness in society about their value as a pillar of development.. The Silver Summit is expected to be a reference platform in the region for future initiatives. Grajales points out that the long-term vision includes education strategies, digital campaigns and projects that promote the inclusion of older people in the labor market.
The Silver Summit not only seeks to be an isolated event, but the beginning of a movement to create strategic alliances and projects focused on the well-being and inclusion of the elderly, promoting their active contribution to the economic and social development of the country.
GLORY HELENA KING
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