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David Sinclair at Ageing Fit conference 2021

Speaking at the Ageing Fit conference in January 2021, David Sinclair presented on the economic potential of older workers and how investing in health can unlock a longevity dividend.

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David Sinclair at Ageing Fit conference 2021

  1. 1. International Longevity Centre - UK ILC-UK was established in 1997 as one of the founder members of an international network on longevity. In the UK, we’re the specialist think tank on the impact of longevity on society. We have unrivalled expertise in demographic change, ageing and longevity. We want a society that works for everyone, regardless of their age. We produce evidence-based research so we can propose future scenarios with confidence. We provoke and pioneer solutions so everyone can realise the benefits of demographic change.
  2. 2. Key messages Join the conversation: @ilcuk #LongevityDividend • Our failure to prevent ill health is a cost to our economies • Far from being a cost to the public purse, older people’s economic contributions are significant – and growing • Good health underpins a longevity dividend • To unlock the economic potential of an ageing society, we need to invest at least 6% in preventative health
  3. 3. The cost of failing to prevent is high 27.1 million years lived with disability due to largely preventable conditions in 2017 in better off countries 653 billion USD yearly productive loss as a result of our snapshot of non- communicable and communicable diseases ‘Better off’ refers to high and high-middle Socio-Demographic Index (SDI) countries. SDI combines per-capita income, educational attainment, and total fertility rate and places countries and regions along a development spectrum. Years lived with disability quantifies the total number of years a population lives in less than ideal health.
  4. 4. And things are only going to get worse
  5. 5. Older people’s spending represents a global export opportunity Join the conversation: @ilcuk #LongevityDividend In 2015, older households spent USD 9.7tn > GDP of Japan, Australia, Canada & Brazil combined. Fastest growing sectors serving older consumers include: • Housing & utilities • Recreation & culture • Transport • Health
  6. 6. Good health enables economic growth Join the conversation: @ilcuk #LongevityDividend • Older people in better health, who have good cognition, are not limited in daily activities & report being in good health, are more likely, (once relevant factors have been controlled for): • to be in work • volunteer often (and spend more time on this) • spend more • Pattern is found across countries Health underpins a longevity dividend
  7. 7. Health underpins a longevity dividend Join the conversation: @ilcuk #LongevityDividend • Employment and spending rates at older ages are higher in countries that: • spend more on health as a % of GDP • have higher flu vaccination rates • have healthier older populations • Older people spend more time volunteering in countries that: • spend more on health as a % of GDP • older people are heathier.
  8. 8. We need to turn intent into action “We will promote healthy and active ageing through policy measures to address health promotion, prevention and control of communicable and non-communicable diseases” June 2019 G20 Leaders’ Summit “We will promote … health by implementing policy measures including raising awareness about healthy lifestyle and health literacy […] over the life course.” October 2019 G20 Health Ministers’ Communique
  9. 9. We know there are preventions that work
  10. 10. We spoke to people to find out how to make prevention across the life course a reality
  11. 11. From our conversations the messages were clear There are barriers to be overcome and new ways of working needed.
  12. 12. How can we make prevention across the life course a reality?

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