Spain’s Economy Will Be Stressed By An Ageing Population
By 2050 there will be two retirees for every three active workers making aging one of the most serious demographic challenges facing Spain.
Between 2010 and 2060 the dependency ratio, the number of retirees compared to the number of workers, will grow by 34 percent.
This means Spain will experience the greatest increase in the dependency ratio in Europe and by 2050 for every three people of working age, there will be almost two people over 65 years of age, a trend which will have a negative economic and social impact, according to the Bank of Spain.
“We have never experienced an acceleration in the dependency ratio of this type,” said Oscar Arce, the bank’s Director General of Economy and Statistics on May 27.
The trend will have an effect on consumption, investment, employment, productivity, wages and prices, and also on the management of monetary and fiscal policies, he said at the “I Forum on Aging Age & Life: Repercussions of aging in the Spanish economy”.
“Aging will have a relevant and direct effect on economic indicators. demographic changes have important consequences,” he added.
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