• HIC: High-Income Country
• LIC: Low-Income Country
• ODR: Older Dependency Ratio

The world is growing older! The number of over-65s is set to double by 2035, reaching 1.3 billion and constituting 14% of the world's population. Picture this - that's almost like filling up the entire continent of Africa with just elderly people! This is happening due to the past baby boom post World War II and better healthcare improving survival rates.

Don't think of it as all grey and gloomy. Our elderly folks bring a lot to the table:

• Experience and skills: A lot of them have years of expertise and wisdom which is useful in many jobs. Imagine a grandma who's a DIY queen - she would make a great employee at a furniture store!

• The "grey economy": The elderly aren't just part of the workforce, but they're also consumers! Many companies cater specifically to this group, offering everything from holiday packages to healthcare services.

• Childcare support: Many elderly people look after their grandkids, freeing up the parents to work. Think of it as a free, trustworthy babysitting service!

The growing ageing population presents new challenges for families, policymakers, and healthcare providers:

• Caring for the elderly: As people live longer, there'll be an increased need for carers and social service providers.

• Changing work and retirement patterns: More elderly people means more pensions to pay for, possibly straining the economy.