The share of elderly in the European Union has increased: in 2024, there are fewer than three working people per retiree

On the occasion of the International Day of Older Persons, Eurostat published data on the growing share of people over 65 relative to the working-age population in the European Union and Cyprus.

The old-age dependency ratio in the EU increased by 10.2 percentage points over 20 years: from 26.8% in 2004 to 37% on January 1, 2024. This means that in 2004 there were nearly four working-age people for every person aged 65+, and in 2024, fewer than three.

In Cyprus, the ratio stands at 28.6%, gradually rising from 25.8% in 2019. By region, the lowest values are recorded in Mayotte (6.1%) and Guyana (13.8%), as well as in the suburb of Bien in Copenhagen (17.8%). The highest regional value is in the Belgian coastal district of Verne (72.8%).

Eurostat notes that the increase in the ratio places a greater burden on the working population and leads to higher spending on pensions, healthcare, and social services. Possible measures include raising the retirement age, encouraging higher birth rates, and attracting foreign professionals and migrants.

For residents of Cyprus, this currently means a more favorable demographic burden compared to the EU average, but with a clear upward trend, requiring proactive planning in labor and social benefits.