On a global scale, the world’s elderly population has been growing for years now, and Germany is one of the oldest populations in Europe. With a low fertility rate of just 1.5 births per woman, it would be a threat to the future growth of the country. However, reports have shown that the growing trend of the elderly population and on the other hand, the young population has been decreasing. According to the coordinated population projection for Germany starting in 2019, the number of Germans older than 60 will surpass those younger than 30.
In 2017, the population of Germany’s citizens above 60 years old had grown 14% since 1950 totaling to 25% of the country’s population, and it is predicted that the numbers will rise to around 40% by 2048. The growth of Germany’s elderly population will certainly present some challenges and complications to the country due to the demographic changes.
One of the concerns is its effect on the country’s productivity and healthcare spending. In this scenario, Germany will have a lack of the young population to help contribute to growing the economy while there will be more elderly population who require pension money and healthcare from the government. Furthermore, the elderly population will require different social, economic, and medical needs, which require the country to adapt to new changes.