The silver economy has been described as a “global megatrend driven by unprecedented ageing”. It includes public and consumer expenditure related to population ageing. Older Kiwis contribute significantly to the New Zealand economy; they contributed $20.6 billion as consumers in 2016, rising to a projected $94 billion in 2061, they also increasingly contribute as taxpayers, as wage earners, and as volunteers.
The SUPA-NZ Silver Economy research report showed the value of the Bay of Plenty silver economy alone sat at $2.55b in 2016 and is set to rise to $6.92b by 2031 and $15.62b by 2061. That’s bigger than the region’s booming kiwifruit economy.