The 60+ market in developed countries was identified as one of the three groups of “consumers to watch”. This group is expected to grow by more than a third by 2030, from 164 million in 2015 to 222 million in 2030. McKinsey say the group will generate 51% of urban consumption growth in developed countries and 19% of global urban consumption growth in this period.
As the proportion of working age people supporting those aged over 65 reduces, so does the capacity of the Australian Government to fund the needs of this ageing population. But is this really news?
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