Growth in Aging Population Will Reduce Canada’s GDP per Person by $4,300 by 2043: Study

An elderly woman uses a rollator walker while out for a walk along Main Street, in Dauphin, Manitoba, on June 17, 2023. Darryl Dyck/The Canadian Press

A new study from the Fraser Institute reveals how much impact the growth in Canada’s aging population over the next 20 years will have on the economy.

Conducted by Ergete Ferede, professor of economics at MacEwan University, and Bev Dahlby, senior fellow at the Fraser Institute, the study found that a 10 percent increase in the share of the population aged 65 and older is associated with a reduction of the growth rate of real GDP per capita of 0.23 percentage points.