People are living much longer. The majority of children born in the developed world will live to be 100. The 65+ population will double in size from 11% today to 22% by 2050. It is the first time in world history there will be more 65+ than under 5.
Older people’s purchasing power is increasing (SILVER EURO). Those aged 50+ own 70% of the worlds wealth and account for 55% of spending. In 2012, revenue declared annual income for 65+ in Ireland was €10 billion (Irish Revenue Office)