Discuss the positive and negative aspects of an ageing population,with Essay

Discuss the positive and negative aspects of an ageing population,with particular reference to your country - Essay Example Saudi Arabia is undoubtedly the largest oil producer in the world and the biggest company in the Middle East. It performs fairly well in other economic areas; for instance, its tourism sector flourishes with millions of tourists flocking some of its resorts for vacation and water sports especially due to the clear waters of the red sea. Their real Estate and construction sector is attractive as renting is becoming fairly rampant; the country owns gold mines in the South along the red sea and Bauxite and Phosphate in the North (Oxford Business Group 170). All the same its government’s major priority is to diversify its economy as it is currently heavily dependent on oil and gas. An ageing population consists of those 60 years and above.The huge gap between supply and demand initially in Saudi Arabia could be explained by the high population growth that took place in the country; in fact, it was at the time ranked to have a 46% higher birth rate than the world’s usual average population growth. This high population in Saudi Arabia was represented by an extremely young population; it is estimated that 70 % of its population were less than 30 years with 45% of this given bracket being under 15 years (Oxford Business Group 138). This translated into around 30% of the older population quite a small number; Initially between 2000 and 2005 the ageing population of 60 years and above declined in most Arab countries, Saudi Arabia Included; due to the high birth rate. However, recently there was a huge shift in events when in Saudi Arabia and other oil exporting countries such as United Arab Emirates such that the fertility and birth rate greatly declined resulting in an increase in the number of the ageing population (Gopal and Tikhvinsky 104).it is now estimated that by 2045, 15 % of the population will be aged as from 60 years and above due to the decline