At the European Summit on Innovation for Active and Healthy Ageing a background document was launched on 'Growing the Silver Economy'. It has been co-created by a team from different Directorates-General within the European Commission. The document is a first attempt to chart what the Silver Economy has to offer to the EU and what EU is doing already to grow it.

It starts from the assertion that the rapid demographic ageing is one of the main factors determining future EU and global economic development. It is a major societal challenge as well as a major opportunity for economic growth and jobs ("the Silver Economy"). Stimulating the markets that cater to the needs of elderly persons can create a massive pull-effect on many existing or emerging markets. Examples are independent living & smart homes, health and wellbeing, travel and tourism, autonomous vehicles and robotics, and specialised medical devices and treatments. In many of these markets Europe has a strong potential for global leadership. In the background paper 'Growing the Silver Economy in Europe', an overview is provided of relevant Silver Economy related initiatives of the European Commission; a tentative narrative on the Silver Economy and an equally tentative analysis of possible EU Silver Economy actions based on existing initiatives and their potential for the generation of new jobs and growth.

Related documents: