Understanding the Silver Economy: A Critical Literature Review

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Published ID: IJNRD2509089

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R. Durai, S. Ramaswamy, Sruthi Mohan

Silver Economy, Ageing Population, Social Inclusion, Technological Innovation

The Silver Economy has emerged as a transformative paradigm that recognises global demographic ageing as a driver of economic growth, innovation, and social development. This review and appraisal of literature synthesises diverse perspectives on the evolution, dimensions, and challenges of the sector. Historically rooted in discussions from the 1960s, the concept has since developed into a multidimensional economic ecosystem encompassing healthcare, finance, housing, technology, tourism, leisure, education, and social inclusion, all tailored to individuals aged 50 and above. The literature consistently underscores the economic significance of older adults, who contribute to GDP through extended labour participation, consumption power, and intergenerational knowledge transfer. Health and wellness services, technological innovation, and financial inclusion emerge as core enablers, while silver tourism and lifelong learning are identified as vibrant growth segments. The review also emphasises the social imperative of promoting equity and inclusion, with particular attention to digital literacy, accessible infrastructure, and age-friendly policies. Despite notable strengths such as purchasing power, expertise, and brand loyalty, the Silver Economy faces barriers including ageism, unequal access to healthcare, technological exclusion, and social isolation. SWOT analyses reveal that opportunities lie in age-friendly financial services, emerging healthcare technologies, and sustainable innovations, yet threats persist in fiscal pressures, labour shortages, and widening digital divides. Literature further identifies synergies between the Silver Economy and the Sustainable Development Goals, particularly in promoting health, inclusive growth, innovation, and sustainable communities. The evidence suggests that realising the full potential of the Silver Economy requires reframing ageing from burden to resource, with integrated strategies, inclusive policymaking, and intersectoral collaboration. Ultimately, the Silver Economy is positioned as a major engine of 21st Century growth, contributing simultaneously to economic resilience, social cohesion, and sustainability.

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R. Durai, S. Ramaswamy, & Sruthi Mohan (September-2025). Understanding the Silver Economy: A Critical Literature Review. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 10(9), a749-a761. https://ijnrd.org/papers/IJNRD2509089.pdf

Volume 10 Issue 9, September-2025

Pages : a749-a761

Paper Reg. ID: IJNRD_309387

Published Paper Id: IJNRD2509089

Research Area: Science and Technology

Author Type: Indian Author

Country: -, -, India

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