The economics of a graying world

June 24, 2019

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The age structure of global populations is shifting in an unprecedented way, toward a smaller young-age cohort and a larger old-age cohort. What affect will this have on economic growth, and what are the implications for investors?

The economics of a graying world, a new research paper in Vanguard's Megatrends series, finds that these demographic trends will have an overall muted effect on long-term GDP growth. For investors, exposure to various growth and demographic outlooks through a low-cost, globally diversified portfolio offers the best chance for investment success.

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