Recent Release | 13 Sep 2016
The Longevity Economy
Economic Consulting Team
Oxford Economics
By 2015, there were more than 1.6 billion people in the world who were part of the 50-plus cohort. By 2050, this number is projected to double to nearly 3.2 billion people. Throughout the world, the growth of this age group is having a transformative impact, economically and socially.
The US alone is home to 111 million in the 50-plus cohort; they represent a powerful force that is driving economic growth and value. This is what AARP has branded the Longevity Economy, representing the sum of all economic activity driven by the needs of Americans aged 50 and older, and includes both products and services they purchase directly and the further economic activity this spending generates.
The difference it makes is substantial. In the first Longevity Economy report released in 2013 by AARP and Oxford Economics, the Longevity Economy fostered $7.1 trillion in annual economic activity. This figure has now been revised up to $7.6 trillion in the latest report. The outsized contribution reflects the changing demographics, wealth, and spending patterns of the 50-plus population as the lifespan increases and the Longevity Economy becomes more pervasive and central to economic and social policies.
About the team
Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Hamilton Galloway
Head of Consultancy, Americas
Hamilton Galloway
Head of Consultancy, Americas
New York, United States
Hamilton Galloway joined Oxford Economics in 2014 as Head of US Consultancy – a team focused heavily on developing quality, customized research, analysis and impact modeling services for a range of private and public organizations. Prior to joining Oxford Economics, Mr. Galloway worked nearly seven years as an economist, senior consultant and manager at Economic Modeling Specialists Int (EMSI), a data and analytic company based in the US.
Mr. Galloway’s work included building a consultancy presence in the US, conducting bespoke economic and labour market research and engaging public and private sector clients. In 2013/14 he lived and worked in the UK as a senior consultant, focusing on developing data-driven, decision-making analytics and reports for use across public entities and education. He has authored numerous reports, publications, as well as economic development user guides and even a textbook chapter.
Dan Martin
Senior Economist, Economic Impact
Dan Martin
Senior Economist, Economic Impact
New York, United States
Dan Martin is a Lead Economist on the Economic Impact Consulting team. During his eleven years at Oxford Economics, Dan has worked on a wide range of topics, including economic footprint analyses in industries such as petroleum refining, air transportation, nuclear energy, consumer goods, and industrial trucks.
Much of his work has focused on labor markets, on topics such as overtime regulation, career progression, retirement savings, and gap analyses relating occupational demand to educational supply. He has also worked on topics such as energy efficiency, international trade, and the economics of warehousing.
Dan has a PhD in economics from Clark University, an MA from NYU, and a BS from Stanford, and previously worked at the Environmental Protection Agency.
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