The world's demographics are changing.

Across all countries and particularly developed markets, populations are getting old.

So what will global aging mean for economic future?

I'm Alison Nathan and this is Goldman Sachs Exchanges.

Today I'm sitting down with my colleague Kevin Daly, co-head of the economics team covering Central and Eastern Europe,

the Middle East and Africa within global

macro research. Kevin, welcome back to exchanges. Thank you very much, Alice. I'm good to see you.

So, Kevin, you've done a lot of work around your path to 2075 series looking at what the global

economy could look like in 50 years from now. And you recently released a report about global aging.

It's no secret that the global population is aging, but first give us the facts behind that. What

measure do you look at to determine this? And what does it show? I mean, Alison, however you measure it,

the global population is aging. So if you look at median ages in developed economies 50 years ago, the median age was 30.

Now it's 43 over the next 50 years.

That's expected to rise to 47.

For emerging economies, they're significantly younger, but the median age there has also risen from 19 to 30 currently

and is projected to rise to 40 over the next 50 years.

The other way that economists like to look at it

is to look at developments in the working age ratio.

So what is the share of the population

that is between the ages of 15 to 64?

For developed economies, that peaked just before the turn of the century around 67%. It's currently

at 63% and is projected over the next 50 years to fall to 57%. So however you cut it, the global population is aging.

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