Since 2013, Oxford Economics has evaluated the economic contribution of the 50+ year old demographic in the US--referred to as the Longevity Economy. The results of detailed economic impact models have shown that not only does the Longevity Economy contribute outsized value to the US economy, but that value is growing—a nearly $500 billion of increased contribution from $7.1 trillion in 2012 to $7.6 trillion in 2015. Findings show that the 50+ cohort are productively working further into retirement years—staving off a potential gap in the workforce as well as comprising about 55% of national consumer spending—even though they only make up 35% of the national population.
In an era of globalization and transition, the Longevity Economy will become an increasingly valuable asset in terms of economic growth and opportunity. For more information and access to national, state and select MSA findings, visit: www.aarp.org/longevityeconomy
Oxford Economics Research Team
Our Economic Impact team produces original, evidence-based research made accessible to decision-makers and opinion leaders. Principals for this project included:
Head of Consultancy, Americas