In Asia, worries over healthcare costs grow as populations age
30-Sep-16, VOA News
Asian countries have leveraged their young populations to produce massive economic gains in recent decades, but their citizens are growing older, posing new challenges for governments.
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By 2030, the number of elderly people in Asia is forecast to increase by 200 million, a more than 70 percent increase in contrast to a 31 percent rise in Europe and 55 percent increase in North America.
That will mean a rise in healthcare costs, pressuring government budgets. The Asian Development Bank says a rise in public expenditure is “particularly dramatic in East Asia” where spending in China is set to rise over 50 percent by 2050 due to rapid aging combined with economic growth.
Marsh and McLennan estimates the cumulative cost of elderly healthcare in Asia over the next 15 years could reach $20 trillion.