Aging society

An aging society, characterized by rising median age, a growing proportion of elderly individuals, and shrinking working-age populations, is driven by declining fertility rates and increasing life expectancy. Key challenges include shrinking labor forces, higher dependency ratios, and pressures on social welfare systems. Factors driving this shift include rising incomes, advancements in medical technology, changing social values, increasing costs of raising children, greater educational and career opportunities for women, and delays in marriage and childbearing. The global working-age population is projected to decline by 10% by 2060, with Parent Support Ratios falling to just four potential workers per older adult by 2050.