The European Commission has published an updated demographic report, “The Impact of Demographic Change in a Changing”, building on its report from 2020, including addressing recent developments such as the war in Ukraine.
The report identifies five key areas, with the greatest implications for a range of socioeconomic policies:
• Population decline
• Population ageing
• Household composition
• Trends on the labour market
• Poverty and social exclusion risks.
Under the section on population ageing, the report highlights that people aged 65 and above represent 20.8 % of the EU population, up three percentage points from 2011. It is expected that by 2050, about 30% of the European population will be over 65. It was also noted that an ageing population presents fiscal sustainability challenges due to the greater need for health and long-term care, as well as a need an increased provision of pensions. The report estimates that the cost of ageing, which stood at 24% of GDP in 2019, will rise to 26% of GDP by 2070. The updated report and further information on the Commission’s work on demographic change can be found at: https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/new-push-european-democracy/impact-demographic-change-europe_en