In 2024, the total population of Taiwan increased to approximately 23.4 million people. The significant drop in 2021 and 2022 was mainly due to people leaving the island during the coronavirus pandemic, while the natural growth rate was also slightly negative. The return of many people in 2023 led to a growth in population. According to national statistics and projections, population numbers entered a general declining path in 2020. Taiwan's demographic development Taiwan experienced rapid population growth in the 1950s and 60s, but alongside with economic development, growth rates decreased significantly. Falling birth figures have also been attributed to Taiwan’s family planning policy, which was aimed at keeping population growth at check. This led to a situation on the island where overall population density was very high and still growing, while the total fertility rate dropped quickly and eventually reached extremely low levels compared internationally. In the 21st century, the challenges of a quickly aging society became more and more apparent and the government initiated family friendly and birth promoting policies. However, fertility still kept on decreasing and reached a historical low in 2010 at 0.9 births per woman on average, and only in recent years has the number of births increased slightly. Implications of an aging society Today's Taiwan, like many East Asian societies, faces the challenges of a rapidly aging population. While the share of the population aged 65 and older accounted to around 18 percent in 2023, it is projected to reach 43 percent in 2060. The old-age dependency ratio, which denotes the relation of people of 65 years and above to the working-age population, is expected to reach around 87 percent in those years. This puts heavy pressure on the working people and the economy as a whole. However, compared to mainland China, which is in a very much comparable demographic situation, Taiwan enjoys the advantage of a relatively wealthy society, which helps to curb the negative economic effects of an aging population.

The world is facing an important issue of aging population structure, and our country is at the forefront globally, making it a serious issue for Taiwan's national development, but also an opportunity for the development of related silver economy industries. The Asia-Pacific region offers the most business opportunities for the silver economy, with Southern Taiwan having the highest level of population aging in Taiwan. It is worth considering how to leverage the industrial development advantages of Southern Taiwan, as well as its climate, cultural geography, and historical background, to develop an international regional silver care industry.

The aging population is a common problem faced by most countries in the world. This study uses 18 years (from 2002 to 2019) of panel data from 31 regions in China (excluding Hong Kong, Macao, and Taiwan Province), and establishes a panel threshold regression model to study the non-linear impact of the aging population on economic development. It is different from traditional research in that this paper divides 31 regions in China into three regions: Eastern, Central, and Western according to the classification standard of the National Bureau of Statistics of China and compares the different impacts of the aging population on economic development in the three regions. Although this study finds that the aging population promotes the economy of China’s eastern, central, and western regions, different threshold variables have dramatically different influences. When the sum of export and import is the threshold variable, the impact of the aging population on the eastern and the central region of China is significantly larger than that of the western region of China. However, when the unemployment rate is the threshold variable, the impact of the aging population on the western region of China is dramatically higher than the other regions’ impact. Thus, one of the contributions of this study is that if the local government wants to increase the positive impact of the aging population on the per capita GDP of China, the local governments of different regions should advocate more policies that align with their economic situation rather than always emulating policies from other regions.

The aging population is a common problem faced by most countries in the world. This study uses 18 years (from 2002 to 2019) of panel data from 31 regions in China (excluding Hong Kong, Macao, and Taiwan Province), and establishes a panel threshold regression model to study the non-linear impact of the aging population on economic development. It is different from traditional research in that this paper divides 31 regions in China into three regions: Eastern, Central, and Western according to the classification standard of the National Bureau of Statistics of China and compares the different impacts of the aging population on economic development in the three regions. Although this study finds that the aging population promotes the economy of China’s eastern, central, and western regions, different threshold variables have dramatically different influences. When the sum of export and import is the threshold variable, the impact of the aging population on the eastern and the central region of China is significantly larger than that of the western region of China. However, when the unemployment rate is the threshold variable, the impact of the aging population on the western region of China is dramatically higher than the other regions’ impact. Thus, one of the contributions of this study is that if the local government wants to increase the positive impact of the aging population on the per capita GDP of China, the local governments of different regions should advocate more policies that align with their economic situation rather than always emulating policies from other regions.

The aging population is a common problem faced by most countries in the world. This study uses 18 years (from 2002 to 2019) of panel data from 31 regions in China (excluding Hong Kong, Macao, and Taiwan Province), and establishes a panel threshold regression model to study the non-linear impact of the aging population on economic development. It is different from traditional research in that this paper divides 31 regions in China into three regions: Eastern, Central, and Western according to the classification standard of the National Bureau of Statistics of China and compares the different impacts of the aging population on economic development in the three regions. Although this study finds that the aging population promotes the economy of China’s eastern, central, and western regions, different threshold variables have dramatically different influences. When the sum of export and import is the threshold variable, the impact of the aging population on the eastern and the central region of China is significantly larger than that of the western region of China. However, when the unemployment rate is the threshold variable, the impact of the aging population on the western region of China is dramatically higher than the other regions’ impact. Thus, one of the contributions of this study is that if the local government wants to increase the positive impact of the aging population on the per capita GDP of China, the local governments of different regions should advocate more policies that align with their economic situation rather than always emulating policies from other regions.

The fertility rates have fallen in all five Nordic countries over the last years. However, in 2021, the birth rates increased again in all five Nordics countries, besides in Sweden, where the fertility rate stayed the same. This can be explained by the higher number of babies born during the COVID-19 pandemic. In 2022, Iceland had the highest fertility rate of the Nordic countries, with 1.6 children born per woman in reproductive age. The global trend of decreasing fertility The Nordics are not the only region with decreasing fertility rates. Globally, fertility rates have been on a steady decline since 2000. While lower-income countries have had more significant declines, they still have more children born per woman than higher-income countries. In 2000, almost 6 children were born per woman in low-income countries, decreasing to 4.62 in 2021. By comparison, nearly 1.71 children were born per woman in high-income countries, falling slightly to 1.55 by 2021. Overall, in 2023, Niger, Angola, and the Democratic Republic of Congo had the highest fertility rates, while Taiwan, South Korea, and Singapore had the lowest fertility rates. Impacts of low fertility Greater access to education, challenges between work-life balance, and the costs of raising children can all be linked to falling fertility rates. However, this decline is not without consequences, and many countries are facing social and economic challenges because of aging and shrinking populations. For example, in Japan, where nearly 30 percent of the country is aged 65 or older, an increasing proportion of the government expenditure is going towards social security benefits. Moreover, the very low unemployment rate in Japan can partially be attributed to having a shrinking labor force and fewer people to support the economy.

The aging population is a common problem faced by most countries in the world. This study uses 18 years (from 2002 to 2019) of panel data from 31 regions in China (excluding Hong Kong, Macao, and Taiwan Province), and establishes a panel threshold regression model to study the non-linear impact of the aging population on economic development. It is different from traditional research in that this paper divides 31 regions in China into three regions: Eastern, Central, and Western according to the classification standard of the National Bureau of Statistics of China and compares the different impacts of the aging population on economic development in the three regions. Although this study finds that the aging population promotes the economy of China’s eastern, central, and western regions, different threshold variables have dramatically different influences. When the sum of export and import is the threshold variable, the impact of the aging population on the eastern and the central region of China is significantly larger than that of the western region of China. However, when the unemployment rate is the threshold variable, the impact of the aging population on the western region of China is dramatically higher than the other regions’ impact. Thus, one of the contributions of this study is that if the local government wants to increase the positive impact of the aging population on the per capita GDP of China, the local governments of different regions should advocate more policies that align with their economic situation rather than always emulating policies from other regions.

Threshold effect existence test when LEI is threshold variable.

Descriptive statistics of western region of China.

Descriptive statistics of central region of China.

Co-integration test of eastern, central, and western regions of China.

Descriptive statistics of eastern region of China.