Lankans growing old before becoming richer

FOR a long time, development economists, donor agencies, and international organisations have been projecting that Sri Lanka would experience a rapid increase in its elderly population prior to becoming a developed economy.

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Such predictions have been affirmed by the results of the latest population census conducted by the Department of Census and Statistics — Census of Population and Housing 2024.

As per the latest census, population under 15 years of age have declined by 4.5%, while the number of people aged more than 65 years has increased by 4.7% compared to the previous census period - 2012. Furthermore, the working-age population — the people aged 15-64 — have declined marginally as a share of the total population. Unlike in the past, people tend to live longer in Sri Lanka due to the vast improvements in the healthcare facilities of the country. The life expectancy in Sri Lanka has significantly increased over the years, from 60.6 years in 1960 to 77.48 years in 2023 owing to improved healthcare, a decline in mortality rates, and other factors, leading toa larger elderly population.