In 2015, the percentage of the population 65+ years old in OECD countries was 28%, this figure is expected to rise to over 50% by 2050. The graphic above display where each country stands or the population projects in the next 40 years. Japan, Italy, and Greece are already the oldest countries with 46%, 37%, and 35% of their population over 65 years old (in 2015), by 2050 these countries are projected to continue to lead with 78%, 75%, and 73% respectively. This is amazing to imagine. Think about it, Japan in 2050 with nearly 80% of its population over 65 years old. What will a country like that look like?
On the other end of the spectrum in the OCED – Mexico and Turkey are looking stable with only 35% and 37% of their population above 65 years old. This figure is approximately already what the average OCED country is at. The US, Canada, Australia, and New Zealand all look stable with a healthy inflow of immigrants that aid in slowing the growth in elderly people as a fraction of the overall population. Side note: South Korea is projected to undertake the most drastic population change. It is currently one of the youngest countries in the OCED, but in 40 years it will be among the oldest – moving from 19% of its population over 65 to over 70% by 2050.