OUR WORK
CENIE – Economic Resilience and Longevity in Spain
CONSULTING PROJECT
The Impact of the Longevity Workforce on the Resilience of Spain’s Economy
CENIE and the Fundación General de la Universidad de Salamanca
2023
In this study we investigated how Spain’s ageing workforce should be seen as an antidote to financial shocks and an ingredient for future economic success. Like many advanced economies, Spain faces the challenges of an ageing population. The number of people over the age of 50 is predicted to make up around half of the total population in Spain by 2050.
In this study commissioned by CENIE and the Fundación General de la Universidad de Salamanca, we – together with Oxford Economics – looked at how the older workforce increased the resilience of Spanish firms to the economic shocks of the Great Recession between 2008 and 2014. We found that an older workforce helped Spanish firms make more sales, meant firms enjoyed higher employment growth rates, had a positive effect on firms’ productivity, and led to a rise in the net investment rate.