Riyadh, KSA: Unlike the common perception that remained true for decades, Saudi Arabia is now at an early stage of its demographic transition to an older population and thus has an opportunity to prepare early for such a shift, according to a new report titled “Saudi Arabia's Changing Age Pyramid: Bracing for the Demographic Transition” by Saudi management consultants, Strategic Gears.

Through secondary research conducted by Strategic Gears' experts from national and international databases and by studying the experience of G20 countries (Japan, Italy, Germany and the Republic of Korea), the report provides an understanding of the demographic changes in Saudi Arabia, highlights the potential long-term impact an ageing population can have on countries, and discusses the implications for policy issues in Saudi Arabia's context.

The report highlights the challenges and opportunities that could result from changing demographics – lower fertility rates, higher life expectancy and a projected increase in the population of those 65 and older by 2050 (predicted by the UN). The report, however, iterates that the good news for Saudi Arabia is that the substantial rise in the percentage of people over 65 is still at least 20 years away, providing policymakers more time to modify their programs and make the necessary adjustments to fit the country's changing demographics while taking a long view, and approaching with holistic solutions from several perspectives.

Overall, the report highlights the need for comprehensive policy responses to address the problems of ageing and mitigate any possible negative effects of such a demographic shift. These solutions will touch on issues like pension, health care, skills, and labour market changes to assure increased employment across all age groups, especially among older people. Needed interventions will also require significant time, and resources to study, plan and implement. Furthermore, as time goes on, the urgency of these necessary interventions will increase, meaning the right time to ''start'' is now.

According to Strategic Gears’ experts, the report provides an initial analysis and a starting point for further research and policy interventions. The implications highlighted in the report for Saudi Arabia span multiple dimensions -- the economy, the labour market, health & social care, housing & infrastructure and the society -- each of which can be examined individually in further depth to draw more specific and granular conclusions/recommendations/insights.

The “Saudi Arabia's Changing Age Pyramid: Bracing for the Demographic Transition” report is available to download here:
strategicgears.com/index.php/providers/reports/13-reports/69-saudi-arabia-s-changing-age-pyramid

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About Strategic Gears

Headquartered in Riyadh, Strategic Gears is currently one of the leading management consultancies in the MENA region. The company offers consulting services in the areas of Strategy, Marketing, Operations & Organizational Excellence and Digital, to a range of clients in both the public and private sectors. The company is heavily involved in the transformation era of Saudi Arabia, driven by the Vision 2030 initiative, in engagement with various government organizations and the Vision Realization Programs.