On September 23, 2024, The Global Initiative on Ageing GIA participated in the Wealthspan, Healthspan, and Workspan: Shaping the Future of the Longevity Economy workshop, hosted by the World Economic Forum in collaboration with Mercer. This event brought together leaders from the public and private sectors to discuss strategies for building a resilient and equitable future for all generations, focusing on three critical dimensions: wealthspan, healthspan, and workspan.
GIA Longevity supported this significant initiative aimed at reframing economic, healthcare, and social paradigms to adapt to the realities of ageing populations.
Key Takeaways:
- Healthcare Spending: Countries allocate 5-10% of their GDP to healthcare. Preventative health measures are crucial to sustaining lifelong quality health.
- Holistic Approach: Effective management of healthspan, wealthspan, and workspan requires interconnected and integrated strategies.
- Women as a Priority: Investment in women is essential due to their longer life expectancy and unique economic contributions.
- Labor Bias: Over 50% of individuals aged 45 and older face biases, despite evidence showing they excel when given opportunities.
- Flexible Education and Inclusion: Post-middle-age education and labor inclusion are vital for economic and social sustainability.
- Cultural Shift: Reducing ageism is critical to creating sustainable societal changes.
- Innovation: More focus is needed on innovation to address challenges in the longevity economy.
- Education as the Core: Financial wellness and the ability to transition across career paths are key to preparing for longer life spans.
This event emphasized the urgency of systemic change and collaboration across sectors to unlock the potential of ageing populations and redefine societal approaches to ageing.
Link for more information:
World Economic Forum Official Website