In 2008, for the first Time in history lived in towns and three out of every five people will live in an area. At precisely the exact same time as cities around the world are growing, the residents are getting older. Putting it another way, each second is celebrated their birthday by two people. On the present trajectory, the percentage of the global population aged 60+ will double from 11 percent today to 22 percent in 2050, a lot of them will reside cities in developing nations. The above statements Sum up succinctly the two trends – urbanization and population aging – confronting our world. Population ageing is a Phenomenon that occurs when a country’s median age rises because of a declining birth rate or life expectancy. We are currently experiencing population ageing – not just but also across the world. Rate and the scale are unprecedented in the history of humankind.
The Economist magazine published a report on populations in June 2009, in the height of the financial crisis. It reports that the International Monetary Fund IMF calculated that the costs of the financial crisis will be enormous but noticed that in the longer term, looking towards 2050, these prices will be dwarfed by age-related spending. The IMF states:for advanced countries, the financial burden of this crisis will be approximately 10 percent of the ageing-related prices. But population ageing Where 20 percent of the populace is 65 + is not confined to economies in the West and Japan. It is also the phenomenon in the developing economies in Asia, the Middle East and Africa. China is growing old before it becomes wealthy – . Even India confronts the issue of how to look after its population – expected to boost and now over 100 individuals.
Cities have proved themselves to be the world dynamos for centuries, bringing skilled workers and company that is productive and benefiting from economies of scale. And given the fragile market with lack and growth of jobs, a tide of urbanization propelling growth across markets that are emerging is an occurrence that is welcome. Asia was the middle of the world market, accounting for two-thirds of GDP and an aging population in Asia. But From the 19th and 18th centuries, industrialization and urbanization vaulted Europe and the US to prominence. We are observing a shift in the Balance back – at a scale and a rate never before observed. By way of instance, the economic transformation of China is currently occurring at 100 times the nation on earth to urbanize – the United Kingdom’s scale – and at ten times the rate.