By 2050, the number of people over 60 living in Africa will increase from just under 50 million to just under 200 million with Northern and Southern Africa being the most rapidly ageing regions on the continent. This unprecedented demographic shift is having profound implications for society, influencing people’s social, economic and political lives as older people continue to play a vital role in African society today, often providing child care, income, and structure to African families. Similar to many countries across the world, the traditional support system and the family institution continue to shift as a result of increasing migration and urbanization, leaving many older people in need of care and support as they function independent of family units.
Across the world, it is believed that Asia will feel thelargest impact of its ageing population. By 2050, most countries in Asia are expected to see at least 25% of their population over the age of 60, which will outnumber the population below the age of 15. Longer lifespans, smaller family units, limited caregivers, and decreasing populations coupled with a population ageing at a faster rate than any other region in the world makes Asia particularly susceptible to the social and economic challenges presented by an ageing population.
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Currently, Europe has the highest proportion of older people, with those over 60 accounting for 22% of the continent’s total population. By 2050, this percentage is expected to increase to 34% and Europe will remain the region with the highest proportion of people over 60. The region’s rising longevity of older Europeans (estimated to increase by 3.2 years between 2015 and 2050) and the rate of ageing is testing the ability of some European governments to provide an adequate quality of life for their older populations.
Evolving healthcare markets, changes in family dynamics, increased economic independence, and social developments are encouraging a continuously expanding ageing population in the Middle East.Unfortunately, the transition to improved healthcare services has not grown enough to support this change in population to include services for the elderly, which are lacking. Still, the Middle Eastern culture of respect for the elderly continues, as families look to their ageing loved ones for spiritual blessing, examples of religious faith, wisdom, and love. It is this cultural respect for the ageing, coupled with governments that are unable to commit to elderly health, that represents a significant opportunity for private home care operationsto fulfill a social void in many Middle Eastern countries.
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With a rapidly ageing demographic and a decreasing population growth rate, North America, like many other developed regions, is faced with many challenges to providing care to elderly and disabled loved ones. Currently, 60% of people in North America are either providing or receiving care. Of the approximately 32% percent of North Americans receiving care, 46% are between the ages of 75 and 84 years old. By 2030, it is estimated that 20% of North America’s population will be over the age of 65, making the need to find more efficient, preferential care a priority to families and governments.
The passage of the baby boom into the 65+ age group over the next two decades will produce an unprecedented ageing of the Australian and New Zealand populations. Between now and 2030, the percentage of adults over the age of 65 will grow by 86% from 13.8% – 19.9% of the population. As the pre-war generation is replaced by the ageing baby boomer generation, considerable challenges present themselves in Oceania. Like many other regions, the ageing of the baby boomer generation results in smaller families that are able to provide limited care, inadequate healthcare and ageing resources, and a growing need for extended long term care, all challenges that Right at Home can help to relieve.
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The highly developed South African franchise industry currently employs more than 300,000 workers across 550 franchised brands in close to 30,000 franchise units. With an 85 percent success rate and an average 18-month break-even point for new franchise investors, franchising has become the preferred investment option for business entrepreneurs with access to business investment funds. Financial institutions in South Africa have realized the value of supporting and funding new franchises by making capital and start-up funds much more accessible to entrepreneurs than in previous years.
South America is a quickly ageing region, with the current proportion of people over 60 (10%) projected to more than double, reaching 25%, by 2050. With its consistent economic growth and social evolution, the region’s population has tripled, and most people live in cities. Far fewer children die from illness thanks to health and education advances; and 50% fewer babies are born as a result of women taking advantage of education and significantly more opportunities to work outside the home. All of these changes result in a growing ageing demographic and a slowdown in population growth, causing South America’s median age to climb by 14 years, from 26 to 40 by 2050.