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Meeting the Challenges Posed by an Aging Population

Meeting the Challenges Posed by an Aging Population


A dignified life must be assured to those who have filled abundant pages of achievements.

Santo Domingo – The necessary reforms of the social security system must be undertaken to ensure a decent pension for retirees and quality healthcare for the entire population.

Given the statement by Ricardo Hausmann, professor at Harvard University, in a recent conference in the country, that one of the gaps that the country has been closing in relation to developed nations is that Dominican families now have more workers per capita because they are smaller and have fewer children, some might think, without this being the intention of the renowned economist, that the condition of having small families is in itself beneficial for the development of a nation.

This is not the case.

The important thing is that family members have high productivity; That is, the human capital of the country is strengthened, not that there are fewer or more members.

If the family were more prominent, the more productive its members were, the better it would be.

According to the World Bank, “for future and inclusive growth, the Dominican Republic will require a greater increase in productivity through the implementation of reforms to strengthen human capital, competitiveness, innovation, efficiency in public spending and resilience against climate change.”

In this sense, one of the factors that is influencing the proportional growth of the elderly population in the Dominican Republic and Latin American countries is that, in addition to the increase in life expectancy, there is an irreversible trend of reduction in the natural rate, which which is causing more and more small families and a greater proportion of the elderly population.

The population over 60 years of age represented 4.4 percent of the total population in 1950, which increased to 8.6 percent in 2010 and 10.9 percent in 2020. It is estimated to reach 20 percent in 2050.

However, the Dominican Republic is not the country with the most pressing situation in this area.

In 2022, the proportion of older people in some countries and territories, mainly in the Caribbean, exceeded 20 percent and will exceed 30 percent in the next decade.

These are the cases, for example, of Guadeloupe, Martinique, Puerto Rico and Cuba.

However, this does not prevent the country from falling behind in the implementation of the necessary reforms of the Social Security System to guarantee a decent pension for retirees and quality health care for the entire population.

It is these reforms, plus the one that guarantees quality education to increase productivity, that will put the Dominican Republic in a better position to respond when the dependency ratio increases due to the persistent process of population aging.

This will contribute to the development of the country and dignify the Dominican people, guaranteeing a dignified life to those who have filled abundant pages of achievements.

Editorial
Editorialhttps://puntacanatoday.com
Meet Mia, a talented and experienced real estate journalist based in Punta Cana. With a passion for writing, Mia has been contributing articles to PuntaCanaToday®, a leading publication in the real estate industry known for their in-depth research and analysis, Mia covers a range of topics related to the Punta Cana real estate market, from the latest trends and developments to expert insights and advice for buyers and sellers. With a keen eye for detail and a dedication to their craft, Mia is committed to providing readers with accurate, informative, and engaging content. Mia Rodriguez: Editor-in-Chief of PuntaCanaToday® Mia Rodriguez is a dynamic and visionary leader in the realm of journalism, best known as the Editor-in-Chief of PuntaCanaToday®, a prominent newspaper dedicated to providing unparalleled insights into the vibrant landscape of Punta Cana. With an unquenchable passion for fostering informed discussions and driving positive change, Mia has emerged as a pivotal figure in shaping the narrative of Investments, Construction, Real Estate, and Tourism within the region. Born and raised in Punta Cana, Mia's deep-rooted connection to the local culture, coupled with her exceptional journalistic acumen, has propelled her to the forefront of the media industry. With her ample knowledge in Journalism and Communication, Mia embarked on her career with an unwavering commitment to bring forth compelling stories that resonate with both residents and international audiences. Under Mia's editorial stewardship, PuntaCanaToday® has flourished into a beacon of reliable information, serving as an indispensable resource for investors, entrepreneurs, and tourists seeking to explore the vast potential of Punta Cana. Her keen editorial eye and dedication to accuracy have ensured that the newspaper maintains the highest standards of integrity and credibility. Mia's multifaceted approach to journalism is reflected in the comprehensive coverage PuntaCanaToday® provides. From in-depth analyses of investment trends and construction developments to insightful features on the ever-evolving real estate market and the burgeoning tourism sector, the newspaper has evolved into a trusted companion for anyone looking to stay well-informed about Punta Cana's trajectory. Beyond her role as an editor, Mia Rodriguez remains deeply engaged within the local community, participating in various initiatives aimed at promoting sustainable growth and preserving the cultural heritage of Punta Cana. Her commitment to ethical reporting and her dedication to fostering a sense of unity within the region have garnered her widespread respect and admiration. In a realm where information is a precious commodity, Mia's leadership has solidified PuntaCanaToday® as an indispensable bridge between the past, present, and future of Punta Cana. Through her visionary leadership, Mia continues to shape the narrative of the region, inspiring others to explore its limitless possibilities and contribute to its ongoing success.
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