Allianz and Bocconi University present a study on longevity and growth of the Silver Economy in Europe
The analysis highlights the increase in life expectancy, the economic role of the over-50s and the demographic differences between Italy, France and Germany
MILAN - Allianz S.p.A. and the Institute for European Policymaking at Bocconi University have published a new paper dedicated to one of the central themes of the European debate: the longevity revolution and the rise of the Silver Economy, the great demographic and economic transformation that is reshaping society, consumption and production systems.
The study analyses how, over the past fifty years, life expectancy has increased by about ten years, giving rise to a longer and more active second adulthood. This dynamic is already leading to the over-50s generating 34% of world GDP, holding almost half of Europe's wealth and accounting for 50% of global spending, set to rise to 60% by 2050.
In France, Germany and Italy, the countries covered by the analysis, there will be a significant expansion of the older age groups. However, these common macro-trends conceal different demographic paths. In France, for example, the population is younger and growing, supported by relatively higher fertility and a long tradition of family policies. Germany has stabilised its population through migration policies. Italy, finally, faces a more rapid demographic contraction and a more pronounced ageing process. These differences are very important, because they affect the whole of society: from the dynamics of the labour market to the sustainability of pensions, from consumption patterns to social cohesion and the distribution of wealth. But they also create new opportunities.
The collaboration between Allianz S.p.A. and the Institute for European Policymaking of Bocconi University stems from the desire to combine economic analysis, social perspective and strategic vision to understand how longevity will influence work, welfare, investment and quality of life in the coming decades.
The project is part of a broader process of studying demographic phenomena as a lever to read the evolution of European societies and to anticipate the challenges and opportunities that the current transformation will bring.
