The aging of the population, businesses that thrive and those at risk

By 2021, Albania is expected to be involved in a fast aging process as the number of older people over 65 years of age for 100 adults in working age will exceed the number of young people under 14. Inclusion in the advanced aging phase will deprive business opportunities that are devoted to younger ages.

Entrepreneurship for children’s equipment, such as chores, toys, private schools, high tech businesses and the dough industry will be difficult. Logistics businesses for elderly people will be flourishing, such as housekeeping, home cleaning, home medicine, drug trade, and specific caretakers. Trends have started. With years of experience in the marketing of children’s items, mostly toys, Mr. Dritan Çaushaj, has not seen growth in turnover over the last few years. Although the range of items is increased and parents are more dedicated to child logistics, there’s something wrong.

He says he will have to adapt in the future, as with the decline in births, sales will not be as before. Because the population structure is changing rapidly in favor of older ages, many businesses from domestic producers, but especially the retail and service sector, need to develop new projections for their businesses. In 2018, the ratio of youth dependency (ratio of population 0-14 years old with population aged 15-64) has decreased compared to 2017, from 26.0% to 25.4%, while the dependency ratio of the elderly increased from 19.4% to 20.1% for the same period.

/Klara Ruci/

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