Currently, about 78 million people are added to the world’s population every year. This means that, by 2050, the global economy would need to be able to provide a decent living for more than 9 billion people, of which 85 per cent will be living in what are now developing countries. Africa will account for about half of the absolute increase in population between 2010 and 2050 and be home to nearly one quarter of the world population by 2050 at present trends. As a result, the world population is ageing rapidly. By 2050, one in three persons living in developed countries and one in five in what are now developing countries will be over 65 years of age.