Allianz S.p.A. and IEP Bocconi present a new study on longevity and the Silver Economy

Allianz S.p.A. and the Institute for European Policymaking at Bocconi University announce the publication of a new study devoted to one of the key issues shaping Europe’s future: the longevity revolution and the rise of the Silver Economy, the major demographic and economic transformation that is reshaping societies, consumption patterns and production systems.

The study analyses how, over the past fifty years, life expectancy has increased by around ten years, giving rise to a longer and more active “second adulthood.” This dynamic is already leading people aged 50 and over to generate 34% of global GDP, to hold nearly half of Europe’s wealth, and to account for 50% of global consumer spending, a share expected to rise to 60% by 2050.

In France, Germany and Italy—the countries examined in the analysis—a significant expansion of older age groups is expected. These shared macro trends, however, conceal different demographic trajectories. France, for example, has a younger and growing population, supported by relatively higher fertility rates and a long-standing tradition of family policies. Germany has stabilised its population through migration policies. Italy, by contrast, is facing a faster demographic contraction and a more pronounced ageing process. These differences are highly significant, as they affect society as a whole: from labour market dynamics to the sustainability of pension systems, from consumption patterns to social cohesion, and ultimately to the distribution of wealth. At the same time, they also create new opportunities.

The collaboration between Allianz S.p.A. and the Institute for European Policymaking at Bocconi University stems from the shared goal of combining economic analysis, a social perspective and a strategic vision to understand how longevity will shape work, welfare, investment and quality of life in the coming decades.

The project is part of a broader research agenda that looks at demographic trends as a key lens through which to interpret the evolution of European societies and to anticipate the challenges and opportunities arising from the ongoing transformation.