Key facts
- Developing Asia is aging rapidly, with more than one in four people in the region expected to be 65 or older by 2050.
- Older Asians face challenges including a growing burden of lifestyle diseases, lack of decent jobs, and limited access to essential services.
- 40% of older Asians had no pension coverage, either contributory or social.
- 43% of those needing help due to physical limitations do not receive care.
- 16% of older Asians felt lonely most of the time.
Developing Asia is experiencing a rapid demographic shift towards an older population, a trend that reflects its development successes but for which the region remains largely unprepared. By 2050, more than a quarter of the region's population is projected to be 65 or older, a transition occurring much faster than in Europe or Japan.
In Japan, people aged 65 and over now constitute a record 29.6% of the population. Notably, a significant portion of this demographic remains in the workforce, with 9.43 million Japanese workers, or 13.8% of the employed, being 65 or older last year. These older workers are often essential to businesses.
Across Asia, older individuals face numerous challenges. These include a growing burden of lifestyle-related diseases, with 57% having at least one diagnosed noncommunicable disease, and a lack of regular health checkups for 60% of them. The job market presents difficulties, with 94% of those aged 65 and older working in the informal sector. Economic security is also a concern, as 40% of older Asians lack any form of pension coverage, whether contributory or social. Socially, many experience isolation, with 16% reporting feeling lonely most of the time, and a significant number needing care due to physical limitations but not receiving it (43%).
To address these issues, comprehensive aging policies are recommended. These include fostering lifetime investments in health, education, and financial preparedness, as well as strengthening family and social ties. The Asian Development Bank emphasizes that early investment is crucial for Asia to harness its "silver dividend." Policy priorities highlighted by the ADB include achieving universal health coverage, strengthening primary healthcare, promoting healthy lifestyles, providing basic labor protection for informal workers, extending flexible retirement ages, supporting age-friendly workplaces, and expanding social pension coverage. Innovative pension designs, financial literacy training, and market-based long-term care systems are also seen as vital.