Asean S Silver Revolution Malaysia S Path To Longevity Leadership

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The longevity economy - encompassing all economic activities driven by individuals aged 50 and older - is rapidly emerging as a defining global trend.
Globally, the economic footprint of the 50-plus demographic reached a staggering US$45 trillion (RM189 trillion) in 2020, accounting for 34 percent of global gross domestic product (GDP).
By 2050, this is expected to double as improvements in healthcare, nutrition, and quality of life extend average life expectancy from 47 years in 1950 to over 73 years today.
However, this longevity gain brings a challenge- on average, nearly 20 percent of our longer lives are spent with illness and disability, highlighting the urgent need for a shift towards healthy ageing.
ADSIn Asean, the number of older adults is projected to rise dramatically from 77 million in 2020 to over 173 million by 2050.
The demographic transition is unfolding at varying speeds: Singapore and Thailand are leading the race, rapidly transitioning into super-aged societies.
Meanwhile, although younger, nations such as the Philippines and Cambodia are also ageing swiftly.
Malaysia, currently with 7.2 percent of its population aged over 65, stands at a strategic mid-point. This places Malaysia in a unique position to proactively shape its ageing trajectory and become a regional leader in what is increasingly referred to as the longevity economy.
Malaysia's aspiration to become a regional leader is timely. By 2030, the Asean longevity economy is projected to exceed US$250 billion (RM1.053 trillion).
Yet, this promise is shadowed by the "growing old before growing rich" paradox, where an ageing population outpaces the development of social safety nets. This translates into the need for systemic and forward-looking reforms across healthcare, urban development, workforce policy, and technology innovation for Malaysia.
Malaysia has made initial strides with its National Policy for Older Persons and the Private Healthcare Facilities and Services Act. However, to lead the longevity economy, Malaysia must go beyond traditional eldercare frameworks and champion integrated, cross-sector solutions that address medical, economic, social, and spatial dimensions of ageing.
As chronic diseases become prevalent with age, proactive approaches that extend health span - the number of years lived in good health are critical.
Southeast Asians typically spend the last eight to 10 years of their lives with disability. Malaysia must shift its focus from reactive treatment to early detection, prevention, and integrated care of non-communicable diseases (NCDs), especially in community settings.
The rollout of community health interventions, digital health diagnostics, and neighbourhood-level wellness programmes can serve to delay dependency, reduce hospital costs, and maintain independence for older adults.
Urban planning matters
Healthy ageing does not occur in isolation - it happens in the places people live. Urban planning must be a pillar of Malaysia's longevity strategy.
ADSCities that fail to be age-inclusive - those that do not cater to the mobility, safety, social, and economic needs of older residents are at risk of exacerbating health disparities, loneliness, isolation, and poverty.
This not only diminishes individual well-being but also increases public expenditure due to higher healthcare and service demands. In contrast, cities that foster active ageing and social inclusion across generations can unlock the full potential of the longevity economy.
Despite rapid urbanisation and the rise of institutional care and healthcare infrastructure, many Malaysians, like their Southeast Asian counterparts, still prefer to age at home.
This makes neighbourhoods the core of the care ecosystem. Malaysia should prioritise the development of compact, green, and accessible cities that promote walkability, intergenerational interaction, and access to public services.
Reinventing public spaces to support older adults' autonomy can reduce reliance on institutional care while fostering inclusive communities. Moreover, promoting multigenerational housing, co-living models, and community centres with age-friendly infrastructure is key to enabling active ageing.
Financial security and social cohesion are equally vital. Pension reform and financial literacy education, especially among informal sector workers and women, are crucial to prevent old-age poverty.
Policies encouraging flexible working arrangements and lifelong learning can sustain workforce productivity, tapping into older adults' experience and knowledge.
Technology will play a pivotal role in shaping the longevity economy, positioning Malaysia to emerge as a regional innovation leader.
The global AgeTech market - comprising health wearables, smart home systems, artificial intelligence-powered diagnostics, and caregiving platforms- is expanding rapidly, offering Malaysia a unique opportunity to harness its digital economy and infrastructure.
By fostering innovation ecosystems that support AgeTech startups and public-private collaboration, Malaysia can establish itself as the Asean hub for smart ageing solutions.
These technologies are engines for economic growth and essential tools to enable older adults to age in place, receive preventive care, and remain connected - key pillars of sustainable ageing policies.
Digital literacy
However, technology alone won't suffice. It must be inclusive and accessible. Digital literacy initiatives tailored for older adults, particularly in rural areas, are vital to prevent a widening digital divide. Ethical data governance and privacy standards will further bolster trust and adoption, which are critical to widespread implementation.
With longer lives comes the opportunity and necessity for longer working lives. Fixed retirement ages are becoming outdated. Employment policies must shift to support a multigenerational workforce, enabling older adults to work beyond retirement age while creating space for younger generations through mentorship, part-time roles, and knowledge sharing.
Policies that support lifelong learning, flexible employment, and digital reskilling will be critical to ensure productivity and dignity for older workers.
These measures must also be gender-responsive, as women in the informal sector are more likely to lack pension coverage and face barriers to reemployment.
As the chair of Asean in 2025, Malaysia has a unique and timely opportunity to strengthen the region's economic longevity economy through strategic leadership.
Malaysia can advocate for comprehensive regional frameworks, facilitating collaboration on ageing policies, harmonising standards for AgeTech solutions, and initiating cross-border exchanges on best practices in healthcare and social protection.
By leading regional dialogues and fostering cooperation, Malaysia can help build a cohesive Asean strategy that effectively addresses ageing society-related challenges and harnesses economic opportunities.
Malaysia's roadmap to longevity leadership should strategically focus on several key areas:
Proactive Healthcare Systems: Transition towards health span-focused care, emphasising prevention and integrated chronic disease management.
AgeTech and Digital Inclusivity: Invest in and foster an innovative AgeTech sector with rigorous digital literacy and ethical safeguards.
Financial Security Initiatives: Strengthen social protection systems, reform pension structures, and enhance financial literacy programmes.
Age-Inclusive Urban Planning: Design compact, green cities and inclusive infrastructure to support an ageing society and home-based care.
Regional Collaboration: Leverage its Asean chairmanship to promote harmonised ageing society policies, fostering collaborative platforms like the Asean Centre for Active Ageing and Innovation.
Malaysia's potential to lead the longevity economy revolution in Asean is significant and contingent upon decisive actions now.
As populations age across the region, the economic, social, and technological opportunities are profound.
And Malaysia stands uniquely positioned to embrace and guide these changes, ensuring an inclusive, prosperous future for its ageing population and setting a regional example of proactive, innovative policy. - Mkini
ALIAA NABILA NOR is a public policy professional with over a decade of experience in social development and sustainable development. She is currently serving as a senior programme officer at The Asia Foundation Malaysia.
DANIEL AZLAN MAHADZIR is an award-winning scientist and nutritionist based in Singapore. He is currently an innovation fellow at SingHealth Duke-NUS Global Health Institute, Singapore.
The views expressed here are those of the author/contributor and do not necessarily represent the views of MMKtT.

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