In 2018, an alarming event occurred that many did not notice

In 2018, the number of people over 65 exceeded the number of children under five for the first time, marking a historic demographic shift. According to UN data, this change is driven by increased life expectancy and declining birth rates. By 2024, the share of the elderly reached 10.3%, and by 2074 it is projected to double to 20.7%, posing economic challenges related to a shrinking workforce.

In 2018, a historic demographic event occurred: for the first time in recorded human history, the number of people aged 65 and older surpassed the number of children under five. This turning point, documented in UN data, resulted from two long-term trends: rising life expectancy and falling birth rates. The average life expectancy at birth increased from 64 years in 1990 to 73.3 years by 2024, while the average number of births per woman declined from 3.31 to 2.25 over the same period. By 2024, people over 65 constitute 10.3% of the world's population—more than 800 million people, exceeding the population of Latin America and the Caribbean. In Japan, the elderly share reaches 29%, and in Monaco, 36%. According to UN projections, by 2074 their share will double to 20.7%, and their number will reach 2.2 billion, finally surpassing the number of children under 18. This raises questions for states about the sustainability of pension funds, restructuring healthcare facilities, and choosing between building schools and nursing homes. Economists are divided: skeptics like Torsten Slok of Deutsche Bank doubt the pace of productivity growth, while optimists, including Daron Acemoglu and Pascual Restrepo, see no direct link between aging and slower economic growth, noting that labor shortages stimulate automation.