Silver economy of Europe

Today only a few people are familiar with the term of Silver Economy despite the fact that only in 2015 it contributed over €4.2 trillion in GDP and sustained over 78 million jobs across the overall EU economy. To put it differently, this would be equivalent to 29% of EU GDP and 35% of the Union’s employment.  

Silver Economy is the part of the general economy that are relevant to the needs and demands of people aged 50 and over, including the products and services they purchase directly and the further economic activity this spending generates.  

Surprisingly, industrial actors and service providers are rather slow to react to the impact of demographic changes and the shifting consumer needs on their markets. In addition, industries dominated mostly by people aged under 50 (e.g: tech, communication, clothing, …) don’t fully understand the distinct needs and buying behaviour of this large and heterogeneous older consumers therefore are often reluctant to develop products and services for them.  

We at Osmosis CareNet believe that Silver Economy is more than a new sector of the economy. We see it as a way to turn ageing into economic and social opportunity. Silver Economy in our understanding is the arena where by utilizing intergenerational co-creation, all generations together can reshape the rules about market drivers, and can create new industries. 

One of the aims of Osmosis CareNet is to redefine the outdated, schematized and often biased image of costumers over 50. We are committed to promote the dialogue and understanding between all/the different market actors.  

More than that Osmosis CareNet is platform to encourage people under and over 50 to take part in this newly shaped sector – as entrepreneurs, as product designers or as service providers.   

We also encourage entrepreneurs, product and service developers and providers, marketing and communication professionals, all market actors to get to know the life, the needs and the real potential of people over 50 who, not to forget, will account for 43% of Europe total population in 2025.  

Data source: https://ec.europa.eu/digital-single-market/en/news/silver-economy-study-how-stimulate-economy-hundreds-millions-euros-year