Older people now outnumber young children globally, with South Korea projected to become oldest country by 2060

For the first time in human history, the world has more people aged 65 and older than children aged five and under. A U.S. Census Bureau report projects that South Korea will experience an even sharper shift, becoming the world’s oldest country by 2060.

The bureau’s “An Aging World: 2025” report put the global population aged 65 and over at about 852 million this year, or 10.5% of the total. The older population overtook the share of children aged five and under between 2020 and 2025. The report said the gap is expected to widen more quickly in the years ahead.

By 2060, older people are projected to account for 19.6% of the global population. Of the more than 2 billion people expected to be added to the world’s population by then, about 1.148 billion are forecast to come from growth in the 65-and-over group. The report attributed the faster aging trend to falling birth rates and rising life expectancy.

South Korea’s population aged 65 and older stood at 20.3% last year, ranking 22nd globally, but is forecast to reach 41% in 2060 and overtake Japan. The share of people aged 80 and over is projected to rise from 4.8% to 18.3%, giving South Korea the world’s third-highest level after Monaco and Japan.

The country’s median age is expected to rise from 46 last year to 52.8 in 2040 and 59.2 in 2060. Its old-age dependency ratio is projected to jump from 29.5 older people per 100 working-age people to 81.6, meaning roughly 1.2 workers would support each older person. The report also identified elderly poverty as a major challenge. South Korea’s elderly poverty rate was 40.5% in 2020, the highest among OECD countries.

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The first reversal to appear in human history.