THE Philippines urged the Association of Southeast Asian Nations (Asean) to prioritize the needs of the region’s growing elderly population by building a more inclusive and sustainable "silver economy." The silver economy refers to economic activities, products, and services designed to meet the needs of adults aged 50 and older.
Social Welfare Secretary Rex Gatchalian on Wednesday said more than 14.8 percent of Asean's population is expected to be aged 60 and older by 2030.
By 2035, the number of senior citizens is projected to reach 127 million, said Gatchalian, Asean Socio-Cultural Community chairman.
“The silver economy is sometimes thought of as a niche market for aging populations," he said during the opening of the Asean high-level forum on unlocking the silver economy.
"In reality, it is far bigger than that. It is about redesigning society itself to ensure that longevity becomes an economic and social advantage, not a source of exclusion," he said.
"It is about whether Asean can become a region where longer life expectancy is matched by longer opportunity, longer dignity, and longer participation,” Gatchalian added.
He said that while longer life expectancy is worth celebrating, it also presents challenges as many older persons in Asean remain vulnerable due to the rising cost of living, digital exclusion, gender inequality, and a lack of retirement savings, among others.
Gatchalian said Asean has a unique advantage. "We are at a stage where many member states can plan ahead. We have the opportunity to build systems before crises fully emerge." "And importantly, Asean already possesses the cultural foundations needed for more humane models of aging: strong family structures, community solidarity, and traditions of intergenerational support," he added.
"Our task now is to modernize these strengths without losing them — to combine technology with humanity, efficiency with dignity, economic growth with social cohesion,” he said.
He raised the need for regional cooperation to guarantee that older persons live safely, productively, independently, and with dignity within their communities through investing in the silver economy.
“The demographic future of our region demands cooperation across borders and across sectors. Governments alone cannot build the silver economy.
"The private sector will drive innovation. Academia will generate evidence. Civil society will safeguard inclusion and human dignity. Development partners will help strengthen capacity and financing.
"Older persons themselves must remain at the center, not merely as beneficiaries, but as co-creators of policy,” the DSWD chief emphasized.
Prioritizing investment in the silver economy in order to promote active aging is part of the Department of Social Welfare and Development’s priorities under its chairmanship of the 2026 Asean-ASCC Council.
