The Silver Economy

The Silver Economy

A key challenge for Europe is its ageing population. It is a major societal challenge (in terms of public budgets, workforce, competitiveness and quality of life) but also a major opportunity for new jobs and growth. 

The Silver Economy covers new market opportunities arising from public and consumer expenditure related to the rights, needs and demands of the (growing) population over 50. Merrill Lynch estimates the global Silver Economy will grow from $7 trillion per year to $15 trillion by 2020

(see The Silver Dollar - Longevity Revolution Primer   9.4 MB ). Public spending on ageing in the EU accounts for 25% of GDP and 50% of general government expenditure and is projected to grow by 4% of GDP until 2060

 (see the Commission's 2015 Ageing report).

Europe is well placed to benefit from the worldwide ageing trend, amongst others because of the large public sector involvement allows to effectively apply public money to foster new markets and enhance growth potential. Also, it has competitive strengths in several economic sectors related to health and social care and their ICT-related subsectors. 

To respond to the ageing challenge requires to work across portfolios and sectors. A number of DGs of the European Commission already pursue Silver Economy policy initiatives, e.g. on eHealth, active and healthy ageing, senior tourism and age-friendly housing. To optimise synergies and impact, steps have been taken towards a joined-up Silver Economy Strategy.

A series of follow up actions are being developed to take forward the Silver Economy Strategy in Europe:

- An Initiative on age-friendly homes was launched  in March 2016. The overall aim is leading to a European reference framework for age-friendly digital homes.

- A 12-month study on Silver Economy market opportunities was launched early 2016 to identify specific actions. This study will offer an overview of Silver Economy related initiatives, it will develop ten promising Silver Economy cases where ICT and innovation can create new jobs and economic growth, and it will develop policy recommendations at EU level regarding how to grow the European Silver Economy. 

- Implementation of the EIP-AHA Scaling-Up Strategy    184 KB 

- Work on a 'Blueprint on Digital innovation for Europe's ageing society in the 21st Century' is ongoing. The Blueprint will mobilise a European innovation ecosystem around a shared-vision of easing the journey of emerging digital "innovation to market", promote access to finance for innovators active in the Silver Economy and support the mobilisation of structural funds through smart specialisation.

The Project

The ageing population is a long-term trend that is radically changing European society. Areas such as health, employment and social security are being redefined according to demographic changes and emerging notion of "Silver Economy". This trend has also considerable impact on increasing tourism demand so that the sector must face a redefinition of its products, services and activities.

The Silver Tourism encompasses various economic activities, such as travel agencies, tourist information offices, entertainment, transportation, cultural heritage and health and wellness, all activities that complement an integrated approach for senior tourism.

The Silver Tourism project aims to provide the necessary training for the tourism sector to take advantage of the opportunities created by the demographic trend, developing products and services tailored to the real needs of elderly people, generating an Expert Profile in Silver Tourism. The Silver Tourism Expert will be trained under a multidisciplinary approach, providing a comprehensive view that enables the development of competitive tourism products, placing the senior public at the centre of the process, and providing services that generate them successful experiences.

To achieve this overall objective,  the project has the following specific objectives:

·         Analyze the context related to the Silver Economy at European level

·         Co-design an expert profile aimed at providing a solid basis for the development of training materials in the field of Silver Tourism

·         Develop training including key skills that allow explore and exploit all the opportunities offered by Silver Tourism

·         Develop an innovative methodology for teaching/learning for continuing education through ICTs

·         Develop transversal skills in service design to improve the professional skills of employees in the tourism sector

·         Documentos:

·         Presentation
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Press_Release
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Leaflet_Partners
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Leaflet_Learning_Units
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Leaflet_Expert_Course
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·         Videos:

·         Silver Tourism - Developing Innovative Touristic Products for Silver Economy
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