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Unformatted text preview: to more than triple in the coming
decades and reach 2 billion by 2050. Again, the magnitude of this trend varies by region, and developed countries such as the United States are expected to face the highest growth rates of the elderly age group. Global income levels and living standards
have also been increasing, although the averages across countries are very different.
Per capita income, for example, ranges from $43,000 in Luxembourg, to $24,000 in
Canada, to $800 in Afghanistan.
For marketers, global trends such as these have many implications. Obviously, the
relative size of countries such as India and China will mean they represent huge markets for many product categories. Elderly populations in developed countries are likely
to save less and begin spending their funds on health care, travel, and other retirementrelated products and services. Economic progress in developing countries will lead to
growth in entrepreneurship, new markets for infrastructure related to manufacturing,
communication, and distribution, and the growth of...
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- Spring '14