The world’s population reached 8bn people on Tuesday and will hit 9bn in 15 years as it experiences an unprecedented surge in the number of older people, according to the latest UN data.
The world's population reached 8 billion people on Tuesday and is expected to reach 9 billion in 15 years due to an unprecedented surge in the number of older people, according to the latest UN data.
The global fertility rate has more than halved since the 1950s to 2.3 births per woman, and the number of people aged 65 and over is expected to rise from 783 million in 2022 to 1 billion by 2030 and reach 1.4 billion by 2043.
The overall global population is set to peak at 10.4 billion in the 2080s. The global median age has increased about eight years to 30 since 1950 and is set to rise to 36 by 2050, a figure that jumps to over 50 in east Asia and southern Europe.
Population ageing is a major challenge for societies and economies, as it adds strain on fiscal revenues and healthcare spending. Many countries have started increasing the state retirement age from 65, and without further policy action, the declining share of the working age population in advanced economies is expected to drag down growth and living standards.
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