1 00:00:02,350 --> 00:00:04,809 Europe's population is getting older. 2 00:00:05,349 --> 00:00:10,830 Between now and 2030, most EU countries will see the number of workers over 50 3 00:00:10,830 --> 00:00:14,410 increase to 55% of their overall labour force. 4 00:00:15,089 --> 00:00:19,489 The European Commission forecasts that the spending on healthcare for older people and pensions 5 00:00:19,489 --> 00:00:22,829 will rise 2.3 percentage points by 2040. 6 00:00:23,629 --> 00:00:26,969 The demographic challenges vary across the EU. 7 00:00:27,250 --> 00:00:31,730 Portugal, Greece, Italy and Spain are among the top 10 countries in the world 8 00:00:31,730 --> 00:00:33,369 with the lowest fertility rate. 9 00:00:34,109 --> 00:00:37,490 Uncertainty over poor job prospects, low wage expectations 10 00:00:37,490 --> 00:00:41,509 and inflexible labour markets are leading women to have fewer children 11 00:00:41,509 --> 00:00:43,390 and to have them later in life. 12 00:00:43,829 --> 00:00:47,409 However, getting over 50s into good work has a positive impact on the economy 13 00:00:47,409 --> 00:00:51,149 and can create new markets or expand the so-called silver economy. 14 00:00:51,729 --> 00:00:55,969 Spending by people aged over 50 will reach 6.4 trillion by 2025 15 00:00:55,969 --> 00:00:59,090 and be responsible for nearly 40% of jobs created.