The Silver Economy in the European Perspective

Ralitsa Veleva
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Ralitsa Veleva: University of National and World Economy, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2025, issue 2, 47-64

Abstract: This article presents a comprehensive interdisciplinary analysis of demographic agеing in Europe through the analytical lens of the so-called ‘silver economy’, a conceptual paradigm that reframes ageing not as a unilateral social challenge but as a strategic economic asset. The study follows the evolving discourse surrounding older adults, shifting from perceptions of dependency and care to recognition of their agency as consumers, innovators, and contributors to productivity in the context of societal development. Drawing on up-to-date demographic indicators and EU-level policy documents, the paper systematizes three core dimensions through which the silver economy intersects with human well-being: late-life labor force participation, integrated social and healthcare services, and the infrastructure for digital and territorial connectivity. The findings suggest that the combination of policies aimed at extending working life – including raising the retirement age, promoting lifelong learning and reducing early exit from the labour market — significantly enhances the active social role of older individuals. Currently, the silver economy acts as a driver of innovation in healthcare, assistive technologies, and digital services, improving the quality of life of older people and opening new markets. The paper concludes that a successful transformation of demographic trends into sustainable socioeconomic outcomes requires a systemic approach: integrating the demographic perspective across all public policies, making strategic investments in human capital throughout the life course, and institutionalizing intergenerational solidarity as a foundational pillar for inclusive and resilient welfare.

Keywords: well-being; silver economy; social policy (search for similar items in EconPapers)
JEL-codes: H53 I38 J11 J14 (search for similar items in EconPapers)
Date: 2025
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