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24 September 2025

Is Population Ageing a Demographic Timebomb?

Speaker: Marc Canal Noguer, Senior Fellow, McKinsey Global Institute
Speaker: Dr Kevin Daly OBE, Co-Head of CEEMEA Economics, Goldman Sachs
Chair: Sarah Hewin, Councillor, Society of Professional Economists

Listen to the recording of this timely and dynamic webinar as two leading thinkers present contrasting views on one of the most consequential shifts of our time: the global ageing population.

Marc Canal Noguer, co-author of McKinsey Global Institute’s report Dependency and Depopulation?, highlights the seismic economic consequences of declining fertility and shrinking workforces. Marc will explain why ageing could slow GDP growth, strain support systems, and force nations to act urgently—boosting productivity, encouraging migration, and even raising birth rates—to avoid stagnation. As fertility rates fall below replacement in much of the world, he warns, this new era of “youth scarcity” demands a strategic and comprehensive response.

Kevin Daly, co-head of CEEMEA Economics in Goldman Sachs and co-author of the recent report The Positive Story of Global Ageing, argues that fears around population ageing are overblown. With life expectancy increasing and many countries already adjusting through extended working lives and falling dependency ratios, he sees ageing as a positive transition rather than a crisis. In Kevin’s view, it’s time to challenge outdated assumptions and recognise that living longer, healthier lives is a major human achievement—not a looming threat.

The meeting was chaired by SPE Councillor Sarah Hewin, former Head of Research for Europe and Americas at Standard Chartered Bank.

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