Silver economy – How to unlock the potential?

Silver economy – all economic activities linked to older age groups – has emerged as a response to population ageing in the Nordics in recent years. A new report elaborates on how municipalities respond to their ageing population in rural areas. How can older people continue to make valuable economic and societal contributions after retirement, and provide significant economic and societal benefits, particularly if they are healthy and active?

Promoting health and activity in older age can be seen as a cornerstone for strengthening the silver economy. Making society more age-friendly and appreciating and activating the aspirations of senior citizens is central. One way of mobilising the potential of the silver economy could be to improve the transfer of skills and expertise between younger and older generations of workers.

Promoting education and training to improve the digital capabilities of older people is key not only for extending working careers, but also for enhancing well-being and their independence, says Mats Stjernberg, Senior Research Fellow at Nordregio.

The silver economy is also about acknowledging the role of older people as consumers, which brings potential for new types of products and services. This seems to be the case especially in rural areas where population ageing is often most expressed and where seniors constitute an increasingly important consumer base.

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