This extension in life combined with low birth rates will for first time in history lead to the crossing of a demographic landmark; the global population will have more people over the age of 65 than children under the age 5. Within the next 30-40 years the 60+ population will account for around 1/5 of the world’s total population; the 50+ population will account for nearly 1/3.

Last year every baby boomer in the world had turned 50 and now represents a fifth of the world’s population. In just 5 years the 50+ market place will be a quarter of the world’s population.

Perhaps the easiest way to quantify the growth of this market is to realise that in the UK someone is turning 50 every 40 seconds whilst in the US someone is turning 50 every 7 seconds.

In addition to the sheer size of the market are some interesting economic facts:

• Wealth and revenues in Europe of persons over 65 is over €3tr
• Wealth and revenues of the baby boomer population in the US is over $2tr
• The declared revenues of the over 65’s in Ireland is €6.6bn
• People age 50 and older control more than 50% of the total U.S. discretionary income
• The discretionary spending power of Australians aged 45+ is predicted to be $218 billion in 2009, 31% more than adults under 45.
• 50-plus households in the UK spend around £250 billion annually, which equates to over 40% of national household spending.
• In Canada the over 50’s control three-quarters of all the personal wealth in the country; buy 30% of all food consumed in the home; have more than $7 billion in retirement savings; are 97% debt-free, and dine out frequently.
• The United States Census Bureau showed that while 40% of the United States population was 50 or older, this group held 75% of the nation's financial assets and did 55% of all consumer spending

The Business of Ageing Conference will explore in detail the size and power of this market, show how every business could be targeting this market and what methods to use as a long term strategy.