The Organisation for Economic Co-operation and Development (OECD) has indicated that providing care to elderly people in industrialised nations is rising dramatically. By the year 2050,the cost of providing care could increase by up to three times compared to what it is today.
The OECD report indicated that longer life expectancies for people in industrialised nations mean that the proportion of the population who are over the age of 80 could increase from 4%in 2010 to 10% in 2050. Currently, an average of 1.5% of GDP is spent to care for the elderly inthese nations.
If trends continue, this may need to rise to as much as 4.5%.The OECD report suggests that member countries need a long term vision to meet thechallenges they face in caring for an ageing population. It also suggests that relying heavily onfamily care will not be the best option.
At the present time, many countries are struggling to meet their care demands. Low pay and difficult working conditions result in a high turnover of care staff. Initiatives in Germany, the Netherlands and Sweden have improved staff pay and conditions, and as a result have shown an increase in staff retention.The report has also indicated that more migrant workers will be needed to provide the care needed.
The OECD Secretary General, Andrea Gurria, added: “With costs rising fast, countries must get better value for money from their spending on long-term care.”
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