Without any shadow of doubt, the deep changes in the global population, manifested differently in many areas of the world, will have a deep impact on the development of business. Among the most important trends are the rapid ageing of the population in Europe and North America, demographic boom in developing countries, and growing ethnic diversity in many regions due to increased international mobility of the workforce. The ageing of population has profound impact on many industries, leading to a rise in both the retired population and the elderly active in the workplace.
In the first place, those catering to the needs for leisure and travel will be affected, most probably in a positive way. A study sponsored by the Council of Europe indicates that “the change between those in work and pensioners concerns mainly an increase in passive, home-centered activities” (Avramov, Maskova, 2003, p. 81). This leads to an increase in TV watching and radio listening, promising benefits for entertainment and media. At the same time, there is also an observable increase in sports activity among retired people, and general increase in their numbers bodes well for travel.
In addition, the change is observable in the ethnic composition of population, primarily in the most developed regions of the world that have systematically attracted migrant workers. In addition to North America and Europe, many Asian countries such as “Singapore and Hong Kong have also been importing overseas migrant workers”, also benefiting from a demographic surge (Ofreneo, 2002). The diversity in neighborhoods affects both industries using their labor and those catering to their needs. The latter are exemplified by retailing.
In the US, a long-time destination of immigration, “both African Americans and Hispanic households now outspend white American households on weekly grocery shopping” (Behind the scenes of a changing industry). All these trends reshape the situation in the modern world. A lot of industries stand to gain from the rise in the number of retired people and demographic boom in general. On the other hand, the increase in population numbers puts pressure on healthcare and education in many parts of the world. Therefore, the impact of population changes is specific to every country and region and balances both positive and negative influences.
Avramov, D, & Maskova, M. Active Ageing in Europe. Population Studies, 41. Retrieved March 18, 2007, from http://www. coe. int/t/e/social_cohesion/population/D%E9mographie%20n%B041%2016×24%20En. pdf Behind the scenes of a changing industry. Retrieved March 18, 2007, from http://members. tripod. com/adybdahl/behind_scenes. htm Ofreneo, R. (2002, September – October). Changing Labour Markets in a Globalising Asia: Challenges for Trade Unions. ALU, 45. Retrieved March 18, 2007, from http://www. amrc. org. hk/4501. htm