Silver economy

AE Trainer

In 2007, the European Commission proposed a European Union countries implementing reforms towards building a “silver economy”. It was assumed that this is a concept relating to the “combination of good supply conditions (high levels of education, R&D, responsive and flexible markets) and the growing purchasing power of older consumers offers a huge new potential for economic growth” .


It is recognized that this is not one sector, but rather a set of products and services from many existing sectors including information technology, telecommunications, financial sector, housing, transport, energy, tourism, culture, infrastructure and local services and long-term care. P. Enste, G. Naegele and V. Leve agree: “silver economy should not be regarded as an own economic sector but rather as a cross-section market, in which numerous industrial sectors are involved” Silver market also contains ideas of “universal” and “intergenerational” design. P. Enste, G. Naegele and V. Leve distinguished fourteen silver market segments. (Klimczuk, 2012)

The conceptual construct of the silver economy has no reference in realities, it is a certain abstraction that aims to visualize the scale of socio-economic changes -development caused by demographic aging and related with the possibilities and limitations of the development of economic systems. It makes a new chance to deal with the problems of aging populations based on for a proactive approach to an economy driven by the production of goods and services, answering the needs of an aging population. Traditional approach  forces decision-makers only to apply passive assignment of funds, and a new approach emphasizes the possibility of creative vision, creation of new values ​​under the influence of demographic aging processes.

The emergence of the silver economy is associated with its deliberative shape, inspired by the diverse needs of older people, the production of what is basically necessary, but also luxury goods and services – free time-industry, available for older people and the degree of inffluence of aging generations can and should  be in this respected. In the first case we deal with the senioral economy at the first stage of development. The second stage of the economy, seniors appear in a new, changed role: from the reactive approach to the proactive, in connection with taking actions to anticipate, have a the speech. It can be a real adverse, more positive consequences of an aging population (Urbaniak, 2016)

There is no one definition of “silver economy”/”silver market”/”longevity economy”

According to B. Urbaniak: It should be used the potential development opportunities, that the silver economy brings, and which all members of society will be beneficiaries. It requires a transition from reactive policy and related policy of reducing deficits towards proactive policy, that allows you to release new related opportunities with the development of medicine, information technology, or  gerontechnology and improving the quality of life in old age.

The future of aging societies depends on the perspectives, that will be created by the silver economy understood as a socio-economic system, oriented in the economic and social spheres as well as  political, for the implementation of the paradigm of active aging in health.

The various aspects of the silver economy therefore, concern the many pillars of development of

economies of countries with advanced aging processes. Potential in the economic sphere, it should be referred to all sections of the economy in particular, with links to science, R & D activity, development of industry, inspired by the needs of older people, housing, construction e.t.c.