Issues of Ageing Population in Australia

Ageing population

Issues of ageing
population
The aging population in Australia is becoming a severe
issue in people lives and the population becomes elder,
which are the most substantial demographic events in the
country nowadays.
This issue is not limited to the country to city as it is an
international concern involving Australia and other
countries also (McCann, 2017).

Developed industrialized societies are growing
older
 It is stated that societies are growing older, which is significantly a major issue
in Australia.
 It apparently means that there is a very less number of working-age people in
the country.
 This also leads to a decrease in productivity, reduced international
competitiveness, increase in the cost of health care, and expansion of the
business (North and Fiske, 2015).

Impact of an ageing population on aged health
care industry
 It is stated that the ageing population is
influencing the health care sector and
presents many challenges to
government spending, labor market,
government tax, and the whole
economy.
 It can cause a straight impact on the
growth of the expenditure on health by
influences of resource and additional
health (Wright, 2015).

Cont..
1. Shortage of workers –
 It is stated that an ageing population in Australia could lead to a shortage
of personnel and probably push up wages producing wage inflation.
 However, they have to also face financial pressure as the business is
growing over the past few years, which is to be constant so as elderly
population maintaining demand for its facilities (Radford, Shacklock and
Bradley, 2015).

Cont..
2. Reduces capital investment –
 It is stated that the ageing population reduces the capital
investment of the country.
 Higher savings for pensions might decrease capital investment of
the country.
 It is now transforming into a major problem as it is influencing the
entire economy, which creates a misbalance in growth and
productivity of the country (Deeming and Smyth, 2015).