Wednesday, December 12, 2012

Old age Britain: An opportunity for firms to profit from demographics

LONDON is booming. Figures from the 2011 census show the city has witnessed unprecedented demographic change since 2001. Over the last 10 years, its population increased by 11.6 per cent – from 7.3m to 8.2m in 2011. A full 10 of the 20 fastest growing local authorities in England and Wales are located in the capital. The population of Tower Hamlets (where Canary Wharf sits alongside vibrant Whitechapel) grew by 26.4 per cent.

Aside from becoming more populous and diverse (only 45 per cent of London’s population is now white British), London – and Britain more generally – is also getting older. There are 905,000 people aged 65 or above in the capital. The proportion of those in this category in England and Wales is the highest ever recorded. Most astonishingly, the number of people aged 90 or above has leapt up from 340,000 in 2001 to 430,000 today.

Want to know more and the implications for marketers. Read my article published today in CityAM. Dick Stroud

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