Japan’s elderly population hits record high

Japan faces record high elderly population, leading to economic challenges and workforce decline, despite government efforts to address issue.

The number of people in Japan aged 65 or older hit a record high of 36.25 million this year, government data showed, as the country contended with one of the world’s fastest-ageing societies.

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The elderly now accounted for 29.3% of Japan’s total population, also a new high, according to data released by the Ministry of Internal Affairs and Communications on Sunday.

The Ministry said the proportion of elderly residents put Japan at the top of the list of 200 countries and regions with a population of over 1,00,000.

Italy, Portugal, Greece, Finland, Germany and Croatia represented Europe in the top 10 countries in the list, with rates of over 20%.

South Korea stood at 19.3% and China at 14.7%.

Japan is facing a steadily worsening population crisis, as its expanding elderly population leads to soaring medical and welfare costs, with a shrinking labour force to pay for it.