Ageing population is a global phenomenon that poses impact on the economic growth of all countries in the world. The increasing population of elderly populations in developing countries are considered faster than in developed countries. Around 60 percent of the world's population over 65 years will live in Asia by 2030, causing a number of economies in the region to face demographic challenges before becoming a rich country (Kikuchi 2017). In 2040, the number of elderly populations in Asia will exceed the total population of Europeans and North Americans.
In the Asian region, several countries such as Hong Kong, South Korea, Singapore, and Japan, experienced the fastest elderly. South Korea is the fastest ageing country among any country in the world (Heller, 2017). The demographic dividend period in Asia in sequence is China and Thailand will take place around 2035-2040, Malaysia with a demographic dividend period expected to last a little longer until 2045. Meanwhile India, Indonesia, and the Philippines will face an explosion of elderly populations around 2050 (Heller, 2007).
In Indonesia, the number of elderly populations in 2050 is estimated to reach 77 million or almost a quarter of the total population. The increase in life expectancy is actually a positive impact of the development and improvement of the quality of life of the community such as improving community nutrition and improving health services. The Ministry of Health stated that the average life expectancy of the Indonesian population was 71 years in 2018. This rate increased from the previous 68 years in 2008 (Ministry of Health 2019; Sunusi 2008).