The International Government Communications Forum (IGCF 2024) has launched a session on a key global trend – the growing and untapped potential of the silver economy – at the IGCF Government Dialogue platform, it said in a statement.
According to Amac News: The announcement of the forum states that this meeting, entitled "How aging becomes the essence of the silver economy", focused on the growing relevance of the "silver economy" and its potential to contribute to inclusive economic growth.
Nancy Bahmad, Forbes Middle East Managing Editor, showed how governments can create environments where older people can remain productive and independent while addressing the needs of a rapidly aging global population.
Bahmad, said the "silver economy" includes products and services offered to seniors, which have the potential to significantly increase economic activity.
According to him, given that life expectancy has now reached 70 worldwide and 80 in some countries, the elderly represent a key population that governments and businesses must address by creating enabling environments. Stay active and independent, focus on it.
He further explored the economic potential of the silver economy. Noting important steps in the UAE, citing initiatives such as the National Strategy for Senior Citizens in 2018 and Federal Law No., "By 2025, the country is expected to contribute €6.4 trillion to Europe's GDP create 88 million jobs.
He emphasized the need for public-private partnerships, especially in healthcare and technology, to support the elderly.
He also stressed that governments should adopt best practices to address this growing population, including raising awareness among younger generations and ensuring markets recognize the purchasing power of older people.
The meeting also emphasized the importance of creating initiatives to educate the elderly about technological developments and their participation in decision-making processes that target their social sector.