Sri Lanka, July 17 -- Silver economy which is emerging as a result of population ageing will have a profound impact on consumption patterns and the Sri Lankan economy as a whole.

Advancements in healthcare and medicine have helped elevate the maximum life expectancy or the longevity of people. Today, every country in the world is experiencing ageing population growth and demographers predict that this will create the so called silver economy, and a new and powerful consumer class.

"Population ageing is a challenge. However from a business perspective, it is also an opportunity as aging population is increasingly important in terms of consumption. Elderly people will need new products and services, which will open up a new market that co...