At a glance:

• In 2018, 55% of Brazilians aged 50-69 were in employment.

• People aged 50 and over accounted for 20% of the Brazilian workforce in 2017 – this could rise to 30% by 2035.

• In 2010, nearly half of all Brazilian reals (46%) were spent by older households, amounting to 18% of GDP.

We’re accustomed to ageing populations being presented as a bad thing. But far from being a cost or drain on public resources, older people’s social and economic impact is significant.

Such contributions could be much higher if we removed avoidable barriers to working, spending, caring and volunteering, with the most important being poor health.

Countries that invest more in health see more people working, spending and volunteering, and that investment in prevention drives a return. Spending just 0.1 percentage point more on preventative health can unlock an additional 9% in spending by older consumers and an average of 10 extra hours of volunteering across the G20.

This report highlights the economic contributions of older people in Brazil today and what more could be done to unlock a longevity dividend over the years to come.

Brazil is often viewed as a young country, but the impact of demographic change could be felt much sooner compared to developed countries. The pandemic has highlighted the need to prioritise health and act further to support older people. Amidst the devastation caused, it has starkly illustrated how our economies are linked to health and exposed the dangers of under-investing in prevention.

The ILC is urging all G20 Governments, including Brazil, to introduce a mix of regulatory, legislative and fiscal incentives to support spending and work by older people. We call on the Brazilian Government to adopt an Ageing Society New Deal which commits to raise spending on prevention to 6% of health budgets, alongside greater support for older people’s paid and unpaid contributions.