If at least 7 percent of its population is aged 65 and up, the country has an aging population, which may present some problems because of its limited work force. According to the study, the rapid pace of aging can adversely affect the economy for the next 20 years, as this may lead to slow economic growth in various regions. The Philippines, however, will be exempt from this until Based on the report, people aged 65 and up will make up just 4. By , they will compose 4.
These numbers will rise to 6. The country's young population will definitely have a positive impact on the economy.
Compared to nations with rapidly aging populations, the Philippines will have a more stable pool of workers and much larger labor force, which can help in the growth of various industries. This will cement its status as a global service center with its thriving service export sector and outsourcing industry, among other trades. In terms of policies, it can afford to make gradual changes and adjustments over a longer period, making it easier to adapt to these reforms.
Kazuaki Tsuchiya | The University of Tokyo | CV & Publication
KMC is an award-winning real estate services headquartered in Bonifacio Global City with over employees involved directly in transactions for tenant representation, landlord representation, investments, and residential services. This provides the firm and its clients access to a global network of over offices and 30, real estate experts throughout the Americas, Europe, Asia Pacific, Africa, and the Middle East.
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