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The Business of Longevity Summit

Hong Kong

 

Asia is home to a greater share of older people than anywhere else but, unlike Western countries, parts of Asia will grow old before they become rich. It took almost 70 years for the elderly to increase from 7% of the US population to 14%. It will take Vietnam only 15 years to cover the same distance.

As these societies age, they will place enormous strain on health-care systems. While workforces and productivity are shrinking, governments must find ways to treat growing numbers of people suffering from the diseases of ageing. The Asia Pacific Risk Centre estimates that spending on Asia’s elderly will cost $20 trillion in the next 15 years. How to manage increased demand without bankrupting national purses is one of the most urgent policy and economic challenges facing the region.

But the burden of managing ageing societies should not rest solely on the shoulders of governments. The private sector has much to contribute, and could stand to benefit considerably. Longevity presents a massive opportunity for health-care providers, insurers, technology firms and other companies that can bring innovative products and services to market, and help societies adapt to living longer, better-quality lives.

 

The Business of Longevity Summit will bring together the leading minds from governments, the private sector, health care, academia and think-tanks to discuss and debate how to help Asian countries make the transition to older societies that are still healthy and productive.

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