Report: EU Population Seen Peaking in 2029 Before Long Decline

According to Lianhe Zaobao citing AFP, a report released Tuesday, July 14 said the European Union’s population is projected to peak at 453.3 million in 2029 from 450.6 million currently, before entering a long, gradual decline. The report forecasts the EU population will fall to 398.8 million by 2100, an overall drop of 11.7% to its lowest level since the 1970s, as aging accelerates: life expectancy at birth is expected at 81.5 years in 2024, and nearly one-third of EU residents are projected to be 65 or older by 2050, up from one-fifth now. The EU said the shift could bring labor shortages, tighter public budgets, and pressure on care and education systems, while also supporting growth in the “silver economy.” EU Commissioner Dubravka Suica said demographic change is reshaping society, the economy, and labor markets, and the EU said it must raise productivity and reduce unemployment to offset a shrinking workforce.