An ageing society should be considered a sign of social and economic progress. One that, because of increasing longevity, brings further opportunities for economic, social and cultural development. It opens up new areas for economic growth and employment as technological innovation enters the market place. Demographic change also poses a major challenge to the European economy’s current ‘ways of doing business’. A strategic overview is essential to fully mitigate risks and exploit opportunities. 

Several initiatives related to the societal challenge of the ageing population have been launched, in the context of Europe’s innovation strategy Europe2020. The objective is for older adults in Europe to live independently and actively for longer, in conditions enabling them to continue contributing to the European society and economy.

Technopolis Group and Oxford Economics were working with the European Commission in order to answer several important questions about the Silver Economy in Europe. This work has provided strategic information and data needed to establish a reference framework for the development of a Silver Economy Strategy for Europe, building on existing regional, national and industrial initiatives across Europe. 

This study's methodology was based on the concept that older adults' needs constitute the basis of a Silver Economy. We involved relevant actors in Europe that were considered direct or indirect beneficiaries of the future Silver Economy Strategy. We therefore reached out to stakeholders and invited the European Commission and other national and regional policy makers, industry leaders, and the older adults in Europe to contribute to this work. 

Preparing an inventory of major Silver Economy policy initiatives, at the national and regional level, to demonstrate the variety of sectors, geographic coverage and potential for social and economic impact in Europe.

Estimating the size and forecasting the growth of the Silver Economy in the EU by 2025. The output of this task will be a ‘reference document’ for future European policy-making as well as public and private investments.

Developing 10 cases that provide the most promising opportunities for economic growth, building on the identified Silver Economy initiatives and market trends. We will launch an online stakeholder consultation to identify, categorise and prioritise the main determinants of opportunity areas. We will then develop ‘business cases’ for policy intervention. And ultimately validate these online by the stakeholders.

Formulating policy recommendations focusing on how best to stimulate an emerging Silver Economy in Europe, driven by technological and service innovation in ICT. The aim is to support a European-level ‘system innovation’ for tackling the ageing population challenge in a way that leads to sustainable economic growth. The intention is to ensure a balanced approach, between addressing the societal challenge of demographic change, and exploiting the jobs and growth opportunities. A final validation workshop with stakeholders will be organised in Brussels.