Old people are the most valuable economic resource. But not in Russia...

Old age benefits the economy
FinmarketThe aging of the world's population and the shortage of raw materials can have a positive impact on the economy, experts from the consulting firm Accenture believe.

Together with the introduction of new technologies and the flourishing of emerging markets, these factors can accelerate the rise in GDP and increase the number of new jobs

The global economy has stabilized and is finally showing signs of renewed growth. However, governments and businesses around the world still face an uphill struggle with unemployment, high levels of public debt and household debt, and growing competition from powerful new emerging markets. But that's not all. The economy needs new growth drivers. A study by Accenture and Oxford Economics has shown that there are four main factors that can significantly accelerate GDP growth and add new jobs to the economy in the next decade. These are more rational use of the labor and consumer potential of the older generation, the transition to "green" energy sources, the introduction of new technologies and building bridges with emerging markets.

"In contrast to the more pessimistic views, our study indicates the existence of numerous opportunities to accelerate economic growth and job creation in developed and emerging economies over the next decade," says the review of New Waves of Growth: Unlocking Opportunity in the Multi-Polar World.

According to the study, success will depend on how effectively the four factors are used.

The "silver" economy. Life expectancy is increasing, and the aging population, according to experts, represents a significant untapped growth factor. The older generation becomes more productive and retires at a later age. In addition, older people remain active consumers of both beauty and health products, as well as financial services, educational programs and new technologies.

However, the study notes that the opportunities that the older generation can give to the economy will not be realized if politicians and entrepreneurs do not take a number of measures. These include the retention of elderly employees in the workforce, additional training of specialists to work in the fields of healthcare, social security and tourism, and improving the labor skills of the older generation.

Saving resources. The need for energy security will grow, new ways of using "green" energy sources will be required. According to experts, this factor can also contribute to the creation of new jobs. However, these opportunities may also be missed, since in many countries there is no adequate infrastructure for obtaining alternative energy sources, in addition, there is a lack of necessary technical skills.

Multi-technologies of the future. New technologies offer almost limitless new possibilities. As the study notes, technology is central to economic progress and raising living standards. At the same time, the key contribution of this sector to economic growth is the ability to stimulate productivity and innovation in the field of goods and services.

The rise of emerging markets. The rise of a multipolar world will significantly expand trade and investment opportunities for multinational companies. The growth in demand from emerging markets will include low-cost goods and services, financial services, infrastructure, and private services.

The Accenture study also highlights the stages that a business must go through in order to benefit from new growth opportunities. This is the creation of a multipolar geographical strategy, using the full power of new technologies, innovation in everything, cooperation and coordination with other sectors, improving the skills and knowledge of employees.

In preparing the study, its authors focused on four major economies, which together make up almost two-fifths of the world economy and provide both the developed and developing world - Germany, India, the United States and the United Kingdom. The conclusions contained in the review are based on discussions with expert groups representing business and academia, governments and non-profit organizations, as well as in-depth analysis of secondary data and macroeconomic analysis.

Oxford Economics experts who participated in the study believe that if the proposed four growth factors are used, the economic growth rate and the employment rate can increase as follows:

• In the United States, the average annual growth will be 3.8% against the 3.1% currently expected, 8.7 million more jobs will be created in 2020 than is currently forecast.;
• in Germany, annual growth will increase to 2.8% from the projected 1.9%, 3 million more jobs will be created in 10 years;
• in the UK, the economy will grow by an average of 3.1% per year against the expected 2.5%, the number of jobs in 2020 will increase by 2.6 million from the currently expected level;
• In India, the average annual economic growth will be 8.7% (now 8% is expected), the number of new jobs in 2020 will grow by 37.5 million from the current forecast.

And what about our "silver economy?
Something like at this Moscow metro station :(

140 million inhabitants is too small for the largest country in the world. Whole areas of Siberia remain uninhabited, and the number of abandoned villages is growing even in the European part of Russia. By the middle of the century, the situation could become catastrophic if the Russian authorities do not take urgent measures in the coming years, ABC writes.

According to a report published last week by Standard & Poors, by 2050 the population of Russia will decrease to 116 million. "Such a sharp deterioration in the demographic situation, according to S&P, will cause budget problems related to the payment of pensions and social benefits. If today the share of the active population reaches 72.1%, then by 2050 it will be 60.4%. The number of residents over 65 years old, which was 13% in 2010, will grow to 25%," writes correspondent Rafael Manueco. According to the calculations of the international rating agency, the budget burden will also increase in the same proportion, which will lead to an increase in debt and a slowdown in economic growth, the indicator of which will not exceed 1.5%, the article says.

The publication reminds that after the collapse of the USSR, a dizzying decline in the population of Russia began: since 1991, the country has lost 8 million inhabitants. "Two reasons for the decline are the low birth rate and high mortality rates. Both of these factors are associated with the low standard of living of the majority of Russians. Due to alcohol abuse, smoking and their consequences in the form of cardiovascular diseases, the average life expectancy of a man does not exceed 67 years," the newspaper notes.

In addition, according to the audit commission of the Accounts Chamber, 1.25 million Russians have emigrated in search of work over the past four years. They are mostly young specialists. According to the head of the Federal Migration Service Konstantin Romodanovsky, about 350 thousand Russians annually leave Russia for permanent residence in other countries. To improve the situation, the UN suggests that Russia simplify the rules for accepting immigrants, the newspaper writes.

Portal "Eternal youth" http://vechnayamolodost.ru15.02.2011