Japan's aging population is posing significant economic challenges
As of 2023, Japan is grappling with a significant demographic challenge that is negatively impacting its economy. The country's population is aging rapidly, leading to a decline in the labor force and consequently, a decrease in productivity and economic output. Japan ageing Japan's population in 2023 is estimated at approximately 123.3 million people, making up about 1.53% of the total global population. However, this figure represents a decrease from previous years. For instance, as of January 1, 2023, Japan's population stood at 125.4 million, indicating a drop of around 511,000 from the previous year. This trend of a shrinking population is expected to continue, with projections for 2025 and 2030 showing further decreases. The median age in Japan is relatively high at 49.1 years, reflecting the country's aging population. This demographic shift has significant implications for the country's economy. As the proportion of elderly people increases, so does the cos...