Also Read | US inflation is highest in 13 years as prices surge 5%The number of people aged 65 and over is projected to double to more 1.5 billion by 2050, greatly increasing their economic impact.
The total spending power of the older population globally was about $8.4 trillion in 2020, according to World Data Lab. That’s expected to grow to $14 trillion over the next decade.“The pandemic has accelerated many of the issues related to aging populations and has highlighted the urgency of resolving them," said Christopher Rossbach, chief investment officer at J.