‘Economics of Longevity: Challenges and Opportunities’ – a ILC high-level roundtable discussion alongside World Bank, IMF, and G20 Finance Meetings in Washington, DC

International Longevity Centre (ILC UK), experts on demographic change and founding member of the ILC Global Alliance, looks forward to a high-level roundtable discussion alongside the G20 Finance Ministers’ Meeting, World Bank and IMF Spring Meetings.

The ‘Economics of Longevity’ roundtable discussion in Washington, DC on Friday 19 April 2024 will identify the challenges that longer lives can present to global economies and what needs to happen next to unlock the opportunities of demographic change.

Data from ILC’s Healthy Ageing and Prevention Index finds significant disparities across the world when measuring six indicators of healthy ageing. For example, Index data show that people living in Scandinavia (the best-performing economic bloc) live an average of 82 years but spend only 31.5 years in work. By contrast, people living in the African Union can expect to live for 66.2 years but have a work span of 29.5 years on average.

These disparities between life span and work span have consequences for economies, social support systems, and individual wellbeing. A new approach is urgently needed.

This event will leverage the opportunities presented by these high-level meetings to produce ambitious recommendations: what needs to happen next to support us and keep us working across our longer lives?

Preventing ill health is a key focus, with effective interventions such as immunisation still chronically underused in adults. Shifts in working policies, practices and culture will also be explored.

David Sinclair, ILC UK’s Chief Executive, said:

“Might a four-day week keep people working beyond their 60s? How can we get people back to work? Given our changing workplaces and working patterns, will our savings sustain our longer lives? With a room bursting with expertise and experience, we look forward to an insightful discussion on the interrelationships between longevity, preventative health, and workforce sustainability – and on ways we can better reap the opportunities of longer lives.”

John Beard, Director of the International Longevity Centre USA, said:

“When considering the macroeconomic implications of population aging, two key determinants are often overlooked or oversimplified: the economic contributions that these older populations make, and how their health compares to that of previous generations at the same age. Hopefully this meeting will start the journey away from the outdated assumptions that underpin much of today’s discourse.”

Susan Schwarz, Head of Health Programs for the Global Coalition on Aging, said:

“When policymaking is limited by short-term priorities, we may not immediately understand the significance of a growing megatrend like demographic change and longevity, which is already transforming society. More older people and declining birth rates mean we start planning now for what our workforces and health systems will look like, decades from now. At this event, we will discuss some of the biggest changes already underway due to global population aging, what those changes mean for our economies and institutions, and build consensus around the opportunities that longevity can bring.”

ILC will also launch their programme of work on the cost-effectiveness of life course immunisation at this event. The publications produced throughout this project urge decision-makers to value and invest in immunisation as a safe and effective intervention that is not just for children.

UN Shot@Life are kindly hosting this discussion at the UN Foundation offices in Washington DC.

Attendees will include:

• Manuela Francisco, World Bank
• Haleh Nazeri, World Economic Forum
• Megan O’Donnell, Gates Foundation
• Martha Rebour, UN Foundation
• Massimiliano La Marca, International Labour Organisation
• Simon Brassel, Office of Health Economics
• John Beard, ILC USA
• Susan Schwarz, Global Coalition on Aging

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Contact

For more information about this event or to organise interviews with participants, please contact Esther McNamara, ILC’s Senior Health Policy Lead and co-ordinator of this event.

Alternatively, for media queries please contact press@ilcuk.org.uk for press queries.

Notes

The ILC’s Healthy Ageing and Prevention Index ranks 121 countries against six indicators: life span, health span, work span, income, environmental performance, and happiness. This allows us to compare how sustainable different countries are, both in terms of longer lives and the extent to which their governments are investing in efforts to prevent ill health and support healthy ageing.

The Index ranks political and economic country blocs, such as the G20, EU and OECD to demand action on sustainable longevity at the global level.

You can view the full list of countries in our Healthy Ageing and Prevention Index here.

About International Longevity Centre-UK (ILC)

ILC is the UK’s leading authority on the impact of longevity on society.  We combine evidence, solutions and networks to make change happen.

We help governments, policymakers, businesses and employers develop and implement solutions to ensure we all live happier, healthier and more fulfilling lives.

We want a society where we all live happier, healthier and more fulfilling lives, where tomorrow is better than today and where future generations are better off. ILC wants to help forge a new vision for the 100-year life where everyone has the opportunity to learn across our lives and where new technology helps us contribute more to society.

The ILC-UK was founded by Baroness Sally Greengross in 1997 and is part of multinational consortium of ILCs known as the ILC Global Alliance which comprises 17 organisations throughout the world.

For more information about the ILC-UK see www.ilcuk.org.uk

The International Longevity Center – USA

The International Longevity Center (ILC-USA) is an unmatched source of knowledge on global trends in healthy longevity and related policy responses. Our focus is on the translation of knowledge into scalable solutions using original research, policy analysis, scientific workshops, and innovative communications tools.

The ILC-USA takes a life course perspective to healthy longevity, with an emphasis on the second half of life. Its goal is to catalyze the societal change that can enable people of all ages to be and do the things they have reason to value, with a particular focus on the needs of disadvantaged groups. It emphasizes person-centered design of systems and the need to achieve equity in outcomes.

To achieve this goal, the ILC-USA engages with all levels of government, foundations, non-governmental organizations, the private sector and community leaders to:

• monitor and evaluate global trends in healthy longevity and its determinants;
• analyze international and US policies; and
• develop and evaluate scalable strategies to foster healthy longevity.

The ILC-USA was founded in 1990 by Robert N. Butler, MD, and grew to become a multinational consortium of ILCs known as the ILC Global Alliance which now comprises 17 organizations throughout the world.  Honoring Dr. Butler’s wishes, and in keeping with his longstanding commitment and generosity to Columbia University, the ILC-USA and the secretariat of the ILC Global Alliance have been housed at the Columbia University Mailman School of Public Health since 2011.

About the Global Coalition on Aging

The Global Coalition on Aging (GCOA) aims to reshape how global leaders approach and prepare for the 21st century’s profound shift in population aging. GCOA uniquely brings together global corporations across industry sectors with common strategic interests in aging populations, a comprehensive and systemic understanding of aging, and an optimistic view of its impact. Through research, public policy analysis, advocacy, and strategic communications, GCOA is advancing innovative solutions and working to ensure global aging is a path to health, productivity, and economic growth. For more information, visit www.globalcoalitiononaging.com.

About the UN Shot@Life Campaign

Vaccines are safe and effective and save millions of lives each year. They are among the best tools the world has to keep children healthy and protect them from deadly and debilitating diseases. The problem? Despite years of progress, many people around the world still lack access to lifesaving vaccines and millions of children continue to die from preventable diseases.

In order to help its United Nations partners reach these children, the United Nations Foundation launched the Shot@Life campaign in 2012. A U.S. advocacy campaign, Shot@Life raises awareness about global vaccine inequity, advocates to ensure strong U.S. government investment in global immunization programs, and partners to mobilize additional support and resources for the on-the-ground work of our UN partners. We do all this to ensure everyone in the world has access to lifesaving vaccines and all children have a SHOT AT LIFE.