'Sri Lanka must seize the "Silver Economy" to stay competitive'

Sri Lanka is on the brink of a major demographic shift - and with it, a pivotal economic crossroads. By 2045, nearly one in four Sri Lankans will be aged 60 or above, creating both challenges and immense opportunities.

- BY IFHAM NIZAM

According to Professor Lakshman Dissanayake, leading demographer and former Vice Chancellor of the University of Colombo, this transition could herald the rise of a powerful new growth engine: the "Silver "Economy".

'Ageing is not just demographic-it's an economic challenge and opportunity, Dissanayake said. 'If Sri Lanka engages its 60-plus population in consumption, employment, and innovation we can unlock a powerful second demographic dividend.'

The 'second demographic dividend,' he explains, arises when older citizens continue contributing to economic growth through savings, entrepreneurship and consumption - turning longevity into a productive force.