It is true that nowadays populations in some regions have a tendency to demographic shift. And this will affect the world in both positive and negative ways.
It is not undeniable the benefit of elderly people in society. For some jobs requiring highly-skillful abilities and intellect such as doctors, scientits, researchers, the older people have, the more experience they get. However, this figure can only be beneficial in case that people have enough physical and mental condition to work and earn themselves. Additionally, if they have well-being, they can go on to contribute to their countries. And, senior citizens in this regard would serve as a nation’s valuable intellectual property. Moreover, in families, the old people – grandparents can help raise children , which relieves the stressful financial burden on care costs for their parents.
Especially, via the exposure to their previous generation, children can know about the traditional values and customs that boost the preservation of traditionalism.
On the other hand, the aging population poses big challenges for the nation’s budget and workforce. For countries that are not affluent, the growth of people’s age will become a financial burden. When people get more and more old, this means that more and more money from the national budget is spent on it. Until a certain age, people will retire. Countries will take a lot of money to put in pension funds. And this is not easy for poor countries. Besides that, countries having low birth rates will impact significantly on the workforce. The issue of people getting older leads to the shortage of entrepreneurial workers because the majority of work-labour will be covered with old people. Most of them will be traditional, set in their ways and refuse to learn something new. This would be the reason why high technological devices will not be accepted in old businesses, which decreases the growth of companies in general and worsen the national economy in particular.