The next article by GCMA CEO Julianne Parkinson was initially printed on 04 October 2023 by Inside Ageing
Following the Worldwide Day for Older Individuals on Sunday 1 October, it’s an opportune second to replicate on the altering panorama of worldwide demographics and have fun the fifth birthday of the World Centre for Fashionable Ageing® (GCMA). This milestone not solely signifies our dedication to fostering revolutionary options for the challenges of Fashionable Ageing® but in addition aligns with the worldwide recognition of the significance of our ageing inhabitants.
The International Day for Older Persons serves as a reminder that the world’s older inhabitants is rising at an unprecedented price. In simply over 4 a long time, the variety of people aged 65 or older has tripled, reaching 771 million globally in 2022. This demographic is anticipated to proceed rising, with forecasts indicating it’ll make up practically one-quarter (22%) of the inhabitants by 2057.
This demographic shift brings each alternatives and challenges. Longer life expectations present possibilities for older people to discover new passions, careers, and academic pursuits, whereas additionally inserting vital emphasis on selling well being, stopping sicknesses, and sustaining useful and monetary independence all through life.
On the GCMA, we perceive the significance of addressing these challenges and harnessing the immense alternatives that Fashionable Ageing presents. Our mission revolves round growing and collaborating with a world community of industry-leading organisations and change-makers to advance the Ageing Properly {industry}.
One in every of our key initiatives is our inclusive co-design program, whereby older people, their households, and numerous stakeholders work collectively to establish unmet wants and create scalable options tailor-made to the wants of older adults. By prioritising co-creation and user-centric design, we make sure that our options are genuinely match to be used by older adults, selling independence and well-being.
Over our 5 years of operation, we’ve partnered with Australian and worldwide organisations to ship impactful initiatives, and put thrilling improvements within the palms – and houses – of older Australians.
In collaboration with the Hong Kong Council of Social Service, we’ve addressed the demand and provide elements that allow older individuals to stay independently at house in Hong Kong. We’ve additionally performed a pivotal position in planning and growing revolutionary ‘Age Pleasant’ precincts that prioritise high quality of life and nurture intergenerational connections.
Moreover, our work with Aboriginal and Torres Strait Islanders and CALD communities has led to the design of culturally inclusive, user-friendly digital merchandise that reply to the variety of Australia’s older inhabitants. Moreover, our partnerships with expertise suppliers like Google Chrome Enterprise and Aurrigo have helped us perceive how technology-enabled options, corresponding to digital well being monitoring and autonomous automobiles, can improve the lives of older adults.
One of the crucial promising areas we’ve explored is AgeTech, which encompasses numerous methods expertise can assist the evolving wants and preferences of older adults. With a world older grownup inhabitants anticipated to achieve one in six individuals by 2050, the AgeTech market is booming, set to exceed USD 336.2 billion by 2027. In Australia alone, it’s projected to be price AUD 5 billion by 2030.
The first motivation behind older adults adopting AgeTech merchandise is to keep up their independence. Standard instruments embrace smartphones, laptops, and tablets, which assist handle isolation and improve communication. An encouraging 83% of Australian older adults utilizing AgeTech merchandise have discovered them useful.
AgeTech is not only a technological or financial phenomenon; it’s a profoundly human one. It redefines ageing as an expertise marked by independence, security, and wealthy connectivity, all because of the ability of expertise. Nonetheless, we should additionally handle cybersecurity and privateness considerations to make sure that these options really profit older adults.
In mild of the rising development of “unretirement,” it’s essential to foster an inclusive office that values older employees’ abilities and expertise. Age biases should be addressed, and alternatives for lifelong studying, particularly in digital abilities, needs to be accessible to older workers. Mutual mentoring and office flexibility can mitigate age-related biases and improve collaboration.
Accessing funds and monetary planning are additionally vital elements of Fashionable Ageing. With practically 70% of Australians over the Age Pension age reliant on authorities pensions or revenue assist, monetary safety performs a pivotal position in retirement choices. Strategic monetary planning, diversifying revenue sources, and getting ready for future retirement wants and preferences are important steps in making certain monetary stability throughout retirement.
As we have fun Worldwide Day for Older Individuals and 5 years of the GCMA, we stay dedicated to reshaping the ageing narrative. Along with our Australian and international companions and with the assist of revolutionary applied sciences, we proceed to advocate that rising older could be a time of independence, security, and wealthy connectivity whereas contributing to our communities and economies. Age will not be a barrier; it’s a celebration of life’s continued journey.
