The pace of change will vary substantially across different regions. Africa’s population – the fastest growing – is set to double by 2050[1]. Europe’s is projected to shrink. Fertility in Latin America will remain higher than mortality. The average age in Japan in 2050 will be 53 – in Nigeria it will be 23[1].

These developments have profound implications both locally and globally. All countries will need to implement bold policies to cope with these demographic changes. In North America and Europe, as well as much of Asia and Latin America, supporting an ageing population will require greater participation in the labour force from women and the elderly, and possibly also higher levels of immigration. Africa’s younger population is a major opportunity, but will require the right policy conditions to maximize the benefits of this demographic dividend: more young people is only an advantage if you can generate enough jobs for them.