New research to be announced at the International Longevity Centre UK’s (ILC) Future of Ageing conference revealed that:
- By 2040, older people will be spending 63p in every pound spent in the UK economy – rising from 54p in 2018.
- Older people are spending their money right across the economy. The top three growing sectors for older consumers are recreation and culture; transport; and household goods and services.
- Tackling the barriers to older people’s spending could add two percent (or £47 billion) to UK GDP a year, by 2040.
The report, published by ILC and from the UK think tank on the...
