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Why Gen Z is Approaching Money Differently Than Other Generations

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Every generation has their own unique approach to money and personal finance.

Millennials, for example, found the journey to adulthood riddled with obstacles such as stagnating wage growth and uncertain economic conditions. These challenges, combined with other generational circumstances, helped to shape the group’s spending habits and attitudes towards money and debt.

Along this journey, Millennials ended up making their fair share of financial mistakes – but interestingly, evidence is now mounting that the next generational cohort (Gen Z) is already learning from their elders.

A New Approach to Money

Today’s infographic comes to us from Rave Reviews and it shows how Gen Z is taking a more pragmatic approach to money.

Why Gen Z is Approaching Money Differently Than Other Generations

Gen Z saw some of their older friends take on massive amounts of debt, while also struggling to find well-paying jobs.

As a result, this new generation (born 1997 and onwards) is taking a much more pragmatic approach to the world of personal finance. Gen Zers generally want to secure well-paying and stable jobs, and to grow their savings rather than spending money that they don’t have.

School and Work

For Generation Z, an education is often seen as an end to a financial means. In other words, college is an opportunity to build a set of skills that will be valuable to employers, ensuring a stable career.

That’s why 88% of the first Gen Z grad class in 2017 ended up choosing their majors with job availability in mind.

Recent Gen Z grads are willing to put in the work, as well:

  • 75% are willing to relocate to another state for a job offer
  • 58% are willing to work evenings and weekends
  • 78% have completed an internship or apprenticeship
  • 77% earn extra money through freelance work, a part-time job, or an earned allowance
  • 35% already own their own business, or are planning to start one in the future

While the Gen Z outlook on school and work is a defining factor in their attitude towards personal finance, how they save and spend money is also making a difference.

Saving and Spending

A whopping 89% of Gen Zers say planning for their financial future makes them feel empowered, while 64% have already begun researching the topic of financial planning.

With dollars and cents on their minds, Gen Z is a more frugal and fiscally responsible group:

  • 72% say that cost is most important factor when making a purchase
  • 47% use their phones in-store to check prices and ask family or friends for advice
  • 66% plan to attend college in-state to save on tuition

As Gen Z enters the professional workforce and starts investing their savings, it will be interesting to see what comes out of this frugal and practical approach to money.

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Countries

Charted: The Worldโ€™s Aging Population from 1950 to 2100

This graphic visualizes the worldโ€™s aging population, showing data for every country and territory around the world.

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Charted: The Worldโ€™s Aging Population from 1950 to 2100

As demographics continue to shift in the 21st century, the worldโ€™s aging population will continue to be a focal point for many global decision makers.

Most countries around the world have experienced population explosions, or are about to. Combine this with declining birth rates and falling mortality rates, and it’s clear that the global senior population will continue to reach new heights.

These graphics by Pablo Alvarez use data from the 2022 UN World Population Prospects to visualize this increasing aging population across countries.

The Worldโ€™s Aging Population from 1950 to 2100

In 2022, there were 771 million people aged 65+ years globally, accounting for almost 10% of the world’s population.

This segment has been growing at an increasing rate, and it’s expected to hit 16% in 2050, and eventually 24% by 2100. Here’s what that’s projected to look like, for every country and territory.

Country by Population Aged +65 Years195020222100
๐Ÿ‡ฆ๐Ÿ‡ซ Afghanistan2.85%2.39%16.03%
๐Ÿ‡ฆ๐Ÿ‡ฑ Albania6.04%16.66%49.08%
๐Ÿ‡ฉ๐Ÿ‡ฟ Algeria3.49%6.39%28.83%
๐Ÿ‡ฆ๐Ÿ‡ธ American Samoa2.38%7.27%45.41%
๐Ÿ‡ฆ๐Ÿ‡ฉ Andorra10.02%14.98%37.04%
๐Ÿ‡ฆ๐Ÿ‡ด Angola2.93%2.6%12.07%
๐Ÿ‡ฆ๐Ÿ‡ฎ Anguilla3.69%10.71%37.49%
๐Ÿ‡ฆ๐Ÿ‡ฌ Antigua and Barbuda4.14%10.63%35.4%
๐Ÿ‡ฆ๐Ÿ‡ท Argentina4.13%11.92%31.79%
๐Ÿ‡ฆ๐Ÿ‡ฒ Armenia8.17%13.15%36.13%
๐Ÿ‡ฆ๐Ÿ‡ผ Aruba1.77%16.15%36.51%
๐Ÿ‡ฆ๐Ÿ‡บ Australia8.17%16.9%31.38%
๐Ÿ‡ฆ๐Ÿ‡น Austria10.42%19.81%33.93%
๐Ÿ‡ฆ๐Ÿ‡ฟ Azerbaijan6.89%7.11%30.5%
๐Ÿ‡ง๐Ÿ‡ธ Bahamas4.76%8.89%29.58%
๐Ÿ‡ง๐Ÿ‡ญ Bahrain2.88%3.76%21.89%
๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh3.9%6.04%32.56%
๐Ÿ‡ง๐Ÿ‡ง Barbados5.24%16.28%33.19%
๐Ÿ‡ง๐Ÿ‡พ Belarus8.24%17.18%30.45%
๐Ÿ‡ง๐Ÿ‡ช Belgium11.03%19.73%32.83%
๐Ÿ‡ง๐Ÿ‡ฟ Belize3.57%5.09%29.21%
๐Ÿ‡ง๐Ÿ‡ฏ Benin7.85%3.06%11.03%
๐Ÿ‡ง๐Ÿ‡ฒ Bermuda5.71%20.41%37.73%
๐Ÿ‡ง๐Ÿ‡น Bhutan2.53%6.25%33.35%
๐Ÿ‡ง๐Ÿ‡ด Bolivia6.11%4.85%21.75%
๐Ÿ‡ง๐Ÿ‡ถ Bonaire Sint Eustatius and Saba14.22%13.84%28.94%
๐Ÿ‡ง๐Ÿ‡ฆ Bosnia and Herzegovina3.95%18.4%36.4%
๐Ÿ‡ง๐Ÿ‡ผ Botswana4.32%3.65%17.96%
๐Ÿ‡ง๐Ÿ‡ท Brazil2.39%9.88%33.52%
๐Ÿ‡ป๐Ÿ‡ฌ British Virgin Islands8.63%9.95%32.47%
๐Ÿ‡ง๐Ÿ‡ณ Brunei4.85%6.17%30.93%
๐Ÿ‡ง๐Ÿ‡ฌ Bulgaria6.66%22.38%37.13%
๐Ÿ‡ง๐Ÿ‡ซ Burkina Faso2.01%2.53%13.07%
๐Ÿ‡ง๐Ÿ‡ฎ Burundi3.22%2.48%13.23%
๐Ÿ‡ฐ๐Ÿ‡ญ Cambodia2.67%5.81%26.43%
๐Ÿ‡จ๐Ÿ‡ฒ Cameroon3.47%2.67%11.89%
๐Ÿ‡จ๐Ÿ‡ฆ Canada7.7%19.03%31.55%
๐Ÿ‡จ๐Ÿ‡ป Cape Verde3.67%5.55%32.63%
๐Ÿ‡ฐ๐Ÿ‡พ Cayman Islands6.05%8.17%28.75%
๐Ÿ‡จ๐Ÿ‡ซ Central African Republic5.%2.51%11.43%
๐Ÿ‡น๐Ÿ‡ฉ Chad4.33%2.01%9.64%
๐Ÿ‡จ๐Ÿ‡ฑ Chile3.3%13.03%36.61%
๐Ÿ‡จ๐Ÿ‡ณ China5.04%13.72%40.93%
๐Ÿ‡จ๐Ÿ‡ด Colombia3.22%9.%34.49%
๐Ÿ‡ฐ๐Ÿ‡ฒ Comoros3.8%4.28%17.81%
๐Ÿ‡จ๐Ÿ‡ฌ Congo3.36%2.72%11.99%
๐Ÿ‡จ๐Ÿ‡ฐ Cook Islands2.94%11.73%29.75%
๐Ÿ‡จ๐Ÿ‡ท Costa Rica2.97%10.83%36.99%
๐Ÿ‡จ๐Ÿ‡ฎ Cote d'Ivoire2.21%2.4%10.86%
๐Ÿ‡ญ๐Ÿ‡ท Croatia7.82%22.36%37.03%
๐Ÿ‡จ๐Ÿ‡บ Cuba4.36%15.81%36.31%
๐Ÿ‡จ๐Ÿ‡ผ Curacao5.82%14.95%30.46%
๐Ÿ‡จ๐Ÿ‡พ Cyprus5.95%14.83%33.36%
๐Ÿ‡จ๐Ÿ‡ฟ Czechia8.29%20.64%26.94%
๐Ÿ‡จ๐Ÿ‡ฉ Democratic Republic of Congo3.77%2.92%10.62%
๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark9.04%20.49%30.45%
๐Ÿ‡ฉ๐Ÿ‡ฏ Djibouti1.99%4.54%19.68%
๐Ÿ‡ฉ๐Ÿ‡ฒ Dominica7.67%9.53%34.28%
๐Ÿ‡ฉ๐Ÿ‡ด Dominican Republic2.72%7.4%30.47%
๐Ÿ‡ช๐Ÿ‡จ Ecuador5.2%7.83%31.97%
๐Ÿ‡ช๐Ÿ‡ฌ Egypt2.95%4.83%21.77%
๐Ÿ‡ธ๐Ÿ‡ป El Salvador3.93%8.22%36.02%
๐Ÿ‡ฌ๐Ÿ‡ถ Equatorial Guinea5.53%3.12%15.13%
๐Ÿ‡ช๐Ÿ‡ท Eritrea3.2%4.01%19.86%
๐Ÿ‡ช๐Ÿ‡ช Estonia10.56%20.58%34.15%
๐Ÿ‡ธ๐Ÿ‡ฟ Eswatini2.68%4.%16.26%
๐Ÿ‡ช๐Ÿ‡น Ethiopia3.01%3.14%18.6%
๐Ÿ‡ซ๐Ÿ‡ด Faeroe Islands7.59%17.92%26.91%
๐Ÿ‡ซ๐Ÿ‡ฐ Falkland Islands8.27%11.08%35.86%
๐Ÿ‡ซ๐Ÿ‡ฏ Fiji5.99%5.9%20.6%
๐Ÿ‡ซ๐Ÿ‡ฎ Finland6.63%23.27%34.04%
๐Ÿ‡ซ๐Ÿ‡ท France11.39%21.66%34.23%
๐Ÿ‡ฌ๐Ÿ‡ซ French Guiana7.96%5.98%21.13%
๐Ÿ‡ต๐Ÿ‡ซ French Polynesia3.%10.07%37.85%
๐Ÿ‡ฌ๐Ÿ‡ฆ Gabon7.21%3.89%16.25%
๐Ÿ‡ฌ๐Ÿ‡ฒ Gambia2.5%2.43%16.06%
๐Ÿ‡ฌ๐Ÿ‡ช Georgia9.35%14.61%31.19%
๐Ÿ‡ฉ๐Ÿ‡ช Germany9.46%22.41%33.72%
๐Ÿ‡ฌ๐Ÿ‡ญ Ghana4.62%3.55%15.91%
๐Ÿ‡ฌ๐Ÿ‡ฎ Gibraltar6.94%20.84%37.63%
๐Ÿ‡ฌ๐Ÿ‡ท Greece6.8%22.82%37.52%
๐Ÿ‡ฌ๐Ÿ‡ฑ Greenland3.06%10.02%29.16%
๐Ÿ‡ฌ๐Ÿ‡ฉ Grenada5.12%10.07%30.54%
๐Ÿ‡ฌ๐Ÿ‡ต Guadeloupe5.51%20.04%34.45%
๐Ÿ‡ฌ๐Ÿ‡บ Guam1.11%11.84%31.19%
๐Ÿ‡ฌ๐Ÿ‡น Guatemala2.31%4.91%28.05%
๐Ÿ‡ฌ๐Ÿ‡ฌ Guernsey11.96%16.64%35.4%
๐Ÿ‡ฌ๐Ÿ‡ณ Guinea5.39%3.32%14.%
๐Ÿ‡ฌ๐Ÿ‡ผ Guinea-Bissau3.45%2.82%14.34%
๐Ÿ‡ฌ๐Ÿ‡พ Guyana3.89%6.28%28.94%
๐Ÿ‡ญ๐Ÿ‡น Haiti3.64%4.54%19.07%
๐Ÿ‡ญ๐Ÿ‡ณ Honduras3.96%4.27%26.5%
๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong2.48%20.47%41.64%
๐Ÿ‡ญ๐Ÿ‡บ Hungary7.81%20.01%31.85%
๐Ÿ‡ฎ๐Ÿ‡ธ Iceland7.52%15.33%34.25%
๐Ÿ‡ฎ๐Ÿ‡ณ India3.1%6.9%29.81%
๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia1.74%6.86%25.28%
๐Ÿ‡ฎ๐Ÿ‡ท Iran5.22%7.62%33.72%
๐Ÿ‡ฎ๐Ÿ‡ถ Iraq2.79%3.41%18.44%
๐Ÿ‡ฎ๐Ÿ‡ช Ireland10.99%15.14%32.48%
๐Ÿ‡ฎ๐Ÿ‡ฒ Isle of Man13.9%22.29%31.8%
๐Ÿ‡ฎ๐Ÿ‡ฑ Israel4.%12.04%25.97%
๐Ÿ‡ฎ๐Ÿ‡น Italy8.09%24.05%38.19%
๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica3.83%7.45%44.05%
๐Ÿ‡ฏ๐Ÿ‡ต Japan4.89%29.92%38.7%
๐Ÿ‡ฏ๐Ÿ‡ช Jersey12.34%16.22%30.52%
๐Ÿ‡ฏ๐Ÿ‡ด Jordan5.03%3.84%27.3%
๐Ÿ‡ฐ๐Ÿ‡ฟ Kazakhstan6.47%8.04%19.58%
๐Ÿ‡ฐ๐Ÿ‡ช Kenya5.28%2.87%16.98%
๐Ÿ‡ฐ๐Ÿ‡ฎ Kiribati7.13%3.81%17.33%
๐Ÿ‡ฝ๐Ÿ‡ฐ Kosovo5.33%10.19%43.35%
๐Ÿ‡ฐ๐Ÿ‡ผ Kuwait2.88%4.93%31.56%
๐Ÿ‡ฐ๐Ÿ‡ฌ Kyrgyzstan7.91%4.54%21.08%
๐Ÿ‡ฑ๐Ÿ‡ฆ Laos2.13%4.45%25.24%
๐Ÿ‡ฑ๐Ÿ‡ป Latvia10.12%21.86%32.86%
๐Ÿ‡ฑ๐Ÿ‡ง Lebanon7.24%9.89%32.11%
๐Ÿ‡ฑ๐Ÿ‡ธ Lesotho6.34%4.2%13.44%
๐Ÿ‡ฑ๐Ÿ‡ท Liberia2.97%3.31%13.88%
๐Ÿ‡ฑ๐Ÿ‡พ Libya5.21%4.86%27.77%
๐Ÿ‡ฑ๐Ÿ‡ฎ Liechtenstein7.89%19.37%34.79%
๐Ÿ‡ฑ๐Ÿ‡น Lithuania8.65%20.8%32.79%
๐Ÿ‡ฑ๐Ÿ‡บ Luxembourg9.71%15.03%31.55%
๐Ÿ‡ฒ๐Ÿ‡ด Macao3.11%13.%32.39%
๐Ÿ‡ฒ๐Ÿ‡ฌ Madagascar3.25%3.35%16.21%
๐Ÿ‡ฒ๐Ÿ‡ผ Malawi3.06%2.61%15.61%
๐Ÿ‡ฒ๐Ÿ‡พ Malaysia4.91%7.5%30.78%
๐Ÿ‡ฒ๐Ÿ‡ป Maldives3.14%4.78%35.61%
๐Ÿ‡ฒ๐Ÿ‡ฑ Mali2.78%2.38%11.%
๐Ÿ‡ฒ๐Ÿ‡น Malta7.42%19.13%38.26%
๐Ÿ‡ฒ๐Ÿ‡ญ Marshall Islands5.68%4.56%17.8%
๐Ÿ‡ฒ๐Ÿ‡ถ Martinique5.85%22.77%37.31%
๐Ÿ‡ฒ๐Ÿ‡ท Mauritania1.44%3.22%15.03%
๐Ÿ‡ฒ๐Ÿ‡บ Mauritius3.18%12.79%33.76%
๐Ÿ‡พ๐Ÿ‡น Mayotte6.61%2.88%18.15%
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico2.99%8.32%34.88%
๐Ÿ‡ซ๐Ÿ‡ฒ Micronesia (country)4.11%6.16%27.59%
๐Ÿ‡ฒ๐Ÿ‡ฉ Moldova7.56%12.98%26.36%
๐Ÿ‡ฒ๐Ÿ‡จ Monaco15.64%35.92%30.16%
๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia3.87%4.61%26.18%
๐Ÿ‡ฒ๐Ÿ‡ช Montenegro7.85%16.55%34.16%
๐Ÿ‡ฒ๐Ÿ‡ธ Montserrat7.92%17.7%33.05%
๐Ÿ‡ฒ๐Ÿ‡ฆ Morocco2.86%7.72%29.97%
๐Ÿ‡ฒ๐Ÿ‡ฟ Mozambique3.13%2.57%13.43%
๐Ÿ‡ฒ๐Ÿ‡ฒ Myanmar3.21%6.82%23.69%
๐Ÿ‡ณ๐Ÿ‡ฆ Namibia4.1%3.97%15.38%
๐Ÿ‡ณ๐Ÿ‡ท Nauru8.98%2.5%15.87%
๐Ÿ‡ณ๐Ÿ‡ต Nepal2.74%6.09%29.51%
๐Ÿ‡ณ๐Ÿ‡ฑ Netherlands7.76%20.31%32.89%
๐Ÿ‡ณ๐Ÿ‡จ New Caledonia5.%11.02%31.61%
๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand9.09%16.31%33.2%
๐Ÿ‡ณ๐Ÿ‡ฎ Nicaragua2.71%5.29%28.92%
๐Ÿ‡ณ๐Ÿ‡ช Niger.92%2.4%9.76%
๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria3.%2.97%12.31%
๐Ÿ‡ณ๐Ÿ‡บ Niue4.79%15.16%22.55%
๐Ÿ‡ฐ๐Ÿ‡ต North Korea2.72%11.71%30.49%
๐Ÿ‡ฒ๐Ÿ‡ฐ North Macedonia5.87%14.91%36.56%
๐Ÿ‡ฒ๐Ÿ‡ต Northern Mariana Islands2.95%10.81%32.09%
๐Ÿ‡ณ๐Ÿ‡ด Norway9.52%18.44%31.65%
๐Ÿ‡ด๐Ÿ‡ฒ Oman3.05%2.76%23.96%
๐Ÿ‡ต๐Ÿ‡ฐ Pakistan5.48%4.27%17.23%
๐Ÿ‡ต๐Ÿ‡ผ Palau8.59%9.93%21.48%
๐Ÿ‡ต๐Ÿ‡ธ Palestine4.77%3.53%23.44%
๐Ÿ‡ต๐Ÿ‡ฆ Panama3.57%8.77%30.03%
๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea1.09%3.19%16.81%
๐Ÿ‡ต๐Ÿ‡พ Paraguay3.73%6.26%26.51%
๐Ÿ‡ต๐Ÿ‡ช Peru3.43%8.41%30.33%
๐Ÿ‡ต๐Ÿ‡ญ Philippines3.56%5.44%23.38%
๐Ÿ‡ต๐Ÿ‡ฑ Poland5.22%18.55%35.69%
๐Ÿ‡ต๐Ÿ‡น Portugal7.%22.9%36.28%
๐Ÿ‡ต๐Ÿ‡ท Puerto Rico3.63%22.93%48.9%
๐Ÿ‡ถ๐Ÿ‡ฆ Qatar3.5%1.52%15.01%
๐Ÿ‡ท๐Ÿ‡ช Reunion3.81%13.28%32.4%
๐Ÿ‡ท๐Ÿ‡ด Romania7.16%18.64%32.22%
๐Ÿ‡ท๐Ÿ‡บ Russia4.8%15.8%27.86%
๐Ÿ‡ท๐Ÿ‡ผ Rwanda2.76%3.2%17.36%
๐Ÿ‡ง๐Ÿ‡ฑ Saint Barthlemy7.3%10.61%43.89%
๐Ÿ‡ธ๐Ÿ‡ญ Saint Helena8.63%28.66%32.61%
๐Ÿ‡ฐ๐Ÿ‡ณ Saint Kitts and Nevis5.36%10.13%29.79%
๐Ÿ‡ฑ๐Ÿ‡จ Saint Lucia3.59%9.23%33.39%
๐Ÿ‡ฒ๐Ÿ‡ซ Saint Martin (French part)4.47%11.14%30.08%
๐Ÿ‡ต๐Ÿ‡ฒ Saint Pierre and Miquelon6.34%17.32%33.4%
๐Ÿ‡ป๐Ÿ‡จ Saint Vincent and the Grenadines7.71%10.86%32.34%
๐Ÿ‡ผ๐Ÿ‡ธ Samoa2.52%5.22%18.75%
๐Ÿ‡ธ๐Ÿ‡ฒ San Marino10.15%20.47%35.73%
๐Ÿ‡ธ๐Ÿ‡น Sao Tome and Principe3.92%3.76%15.6%
๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabia3.32%2.81%30.28%
๐Ÿ‡ธ๐Ÿ‡ณ Senegal3.42%3.14%16.54%
๐Ÿ‡ท๐Ÿ‡ธ Serbia6.15%20.56%37.55%
๐Ÿ‡ธ๐Ÿ‡จ Seychelles10.68%8.16%28.84%
๐Ÿ‡ธ๐Ÿ‡ฑ Sierra Leone3.02%3.14%15.52%
๐Ÿ‡ธ๐Ÿ‡ฌ Singapore2.29%15.12%36.51%
๐Ÿ‡ธ๐Ÿ‡ฝ Sint Maarten (Dutch part)12.03%10.57%34.51%
๐Ÿ‡ธ๐Ÿ‡ฐ Slovakia6.63%16.98%33.4%
๐Ÿ‡ธ๐Ÿ‡ฎ Slovenia7.52%20.96%33.59%
๐Ÿ‡ธ๐Ÿ‡ง Solomon Islands4.03%3.47%15.29%
๐Ÿ‡ธ๐Ÿ‡ด Somalia2.6%2.57%10.75%
๐Ÿ‡ฟ๐Ÿ‡ฆ South Africa4.06%5.89%20.55%
๐Ÿ‡ฐ๐Ÿ‡ท South Korea2.74%17.49%44.44%
๐Ÿ‡ธ๐Ÿ‡ธ South Sudan3.48%2.89%13.11%
๐Ÿ‡ช๐Ÿ‡ธ Spain7.23%20.27%38.72%
๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka8.76%11.54%35.73%
๐Ÿ‡ธ๐Ÿ‡ฉ Sudan3.03%3.5%13.28%
๐Ÿ‡ธ๐Ÿ‡ท Suriname4.09%7.39%25.8%
๐Ÿ‡ธ๐Ÿ‡ช Sweden10.19%20.25%31.83%
๐Ÿ‡จ๐Ÿ‡ญ Switzerland9.49%19.31%32.61%
๐Ÿ‡ธ๐Ÿ‡พ Syria7.66%4.68%24.62%
๐Ÿ‡น๐Ÿ‡ผ Taiwan2.11%16.71%37.32%
๐Ÿ‡น๐Ÿ‡ฏ Tajikistan4.34%3.47%19.43%
๐Ÿ‡น๐Ÿ‡ฟ Tanzania2.2%3.1%14.97%
๐Ÿ‡น๐Ÿ‡ญ Thailand3.21%15.21%39.17%
๐Ÿ‡น๐Ÿ‡ฑ Timor3.14%5.21%25.42%
๐Ÿ‡น๐Ÿ‡ฌ Togo4.29%3.13%11.77%
๐Ÿ‡น๐Ÿ‡ฐ Tokelau4.7%8.66%25.03%
๐Ÿ‡น๐Ÿ‡ด Tonga4.6%6.22%21.65%
๐Ÿ‡น๐Ÿ‡น Trinidad and Tobago3.93%11.52%32.67%
๐Ÿ‡น๐Ÿ‡ณ Tunisia4.4%9.02%31.24%
๐Ÿ‡น๐Ÿ‡ท Turkey3.77%8.64%33.9%
๐Ÿ‡น๐Ÿ‡ฒ Turkmenistan5.84%5.15%21.55%
๐Ÿ‡น๐Ÿ‡จ Turks and Caicos Islands5.79%10.34%28.25%
๐Ÿ‡น๐Ÿ‡ป Tuvalu4.98%6.48%16.15%
๐Ÿ‡บ๐Ÿ‡ฌ Uganda2.87%1.69%14.33%
๐Ÿ‡บ๐Ÿ‡ฆ Ukraine7.54%18.81%33.2%
๐Ÿ‡ฆ๐Ÿ‡ช United Arab Emirates3.35%1.83%15.77%
๐Ÿ‡ฌ๐Ÿ‡ง United Kingdom10.84%19.17%32.56%
๐Ÿ‡บ๐Ÿ‡ธ United States8.18%17.13%30.47%
๐Ÿ‡ป๐Ÿ‡ฎ United States Virgin Islands7.54%20.42%39.11%
๐Ÿ‡บ๐Ÿ‡พ Uruguay8.23%15.58%35.98%
๐Ÿ‡บ๐Ÿ‡ฟ Uzbekistan5.87%5.14%22.24%
๐Ÿ‡ป๐Ÿ‡บ Vanuatu5.65%3.74%16.29%
๐Ÿ‡ป๐Ÿ‡ช Venezuela2.29%8.61%27.71%
๐Ÿ‡ป๐Ÿ‡ณ Vietnam4.13%9.12%30.02%
๐Ÿ‡ผ๐Ÿ‡ซ Wallis and Futuna1.76%13.47%32.98%
๐Ÿ‡ช๐Ÿ‡ญ Western Sahara2.82%5.84%23.73%
๐Ÿ‡พ๐Ÿ‡ช Yemen3.98%2.66%18.25%
๐Ÿ‡ฟ๐Ÿ‡ฒ Zambia2.76%1.75%12.66%
๐Ÿ‡ฟ๐Ÿ‡ผ Zimbabwe3.18%3.32%14.22%
๐ŸŒ World5.13%9.82%24.03%

Some of the places with high elderly shares today include high-income countries like Japan (30%), Italy (24%), and Finland (23%).

The lowest shares are concentrated in the Middle East and Africa. Many countries have just 2% of their population aged 65 years and older, such as Qatar, Uganda, and Afghanistan.

But over time, almost all countries are expected to see their older population segments grow. In just three decades, it is estimated that one-in-four European, North American, and Asian residents will be over 65 years of age.

By 2100, a variety of Asian countries and island nations facing low population growth are expected to see more than one-third of their populations aged 65 years or older, including South Korea and Jamaica at 44%. However, it’s actually Albania that’s the biggest outlier overall, with a projected 49% of its population to be aged 65 and older by 2100.

Passing the Generational Torch

The challenge of an aging population is set to impact all sectors of society, including labor and financial markets, demand for housing and transportation, and especially family structures and intergenerational ties.

One way to help grasp the nature of transition is to note the changing ratio between seniors and young children in the world population, as seen in the below crossover diagram:

Elderly population surpass that of children aged 5 and below

Dropping fertility rates, in addition to improved child and infant mortality rates, are known to have played a major role in the plateauing population of children.

However, not all countries have witnessed this crossover yet, as it usually coincides with higher levels of economic development.

As countries such as India, Brazil, and South Africa reach higher levels of per capita income, they will be likely to follow down the paths of more advanced economies, eventually experiencing similar demographic fates and challenges.

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