Tuesday, January 13, 2026. Italy ranks among the world’s longest-lived nations. This demographic change is profoundly redefining economic balances. According to recent ISTAT data, the “Silver” population holds more than 60% of net household wealth. Therefore, they are a pillar of the national economy, with spending expected to exceed 70% by 2035.
Globally, this phenomenon is known as the longevity economy—an economic ecosystem driven by an aging population and new consumption patterns. This is the focus of the new Rome Business School report: “Silver Population and the Longevity Economy”. The study is authored by Valerio Mancini, Director of the RBS Research Center; Francesco Baldi, Lecturer in the International Master in Finance at Rome Business School; and Massimiliano Parco, Economist at Centro Europa Ricerche.
Italy’s Silver population shows a solid economic structure. Data from Intesa Sanpaolo show that average annual income peaks between ages 45 and 54. At this stage, it exceeds €34,000; it then decreases to €26,030 for those over 65. However, significant assets accumulated over a lifetime sustain their economic stability.
On average, individuals aged 55-64 hold €137,040 in financial assets. Moreover, they own €205,270 in real estate. The well-being in later life depends on accumulated wealth rather than current salary. In fact, for those over 65, real estate value can reach 7.8 times their annual income.
Savings behavior also reflects a focus on security. Italian families set aside 11.2% of their income on average. This figure rises to 11.7% for those over 65. Most save for precautionary or pension-related reasons. Meanwhile, investment-oriented savings remain below 3.5%.
Investment Choices: Caution and Low Risk Appetite
As age advances, financial strategies become more conservative. Silver investors seek security, stable returns, and liquidity. Indeed, 72% of investors over 55 choose low- or medium-risk instruments.
With age, bond holdings increase, while equity exposure declines. The share of individuals holding bonds rises from 14.1% among 25–34-year-olds to 22.7% among those over 65, while only 7.1% of over-65s invest in stocks. Bonds maintain a stable weight (26%) in Silver portfolios, confirming a focus on capital protection, according to an Intesa Sanpaolo-Centro Einaudi (2025) survey.
In Italy, this prudence is combined with strong real estate exposure. Over 70% of senior households own their homes outright. Real estate thus remains the main pillar of wealth. Additionally, savings directed toward supporting children’s financial needs are increasing (20% among over 65).
Healthcare, AgeTech, and Housing: Growing Markets
Sectors linked to longevity are expanding rapidly, including healthcare, senior care, and dedicated infrastructure. In OECD countries, healthcare expenditure represents 9.3% of GDP. Improvements in healthy aging could increase global GDP by 0.4 percentage points annually until 2050.
The AgeTech ecosystem is also growing, encompassing technologies for remote monitoring and cognitive well-being. In 2025, this market attracted $700 million in global investments. Another key pillar is senior housing, with new models such as senior cohousing and light assisted living, which combine autonomy and social engagement.
Aging also increases pressure on pension systems. By 2050, there will be 52 elderly people for every 100 workers in OECD countries. For this reason, wealth management and ESG solutions will become increasingly strategic.
Longevity Economy: A Structural Megatrend
The longevity economy is not a single sector but a global megatrend. It is reshaping domestic demand and investment strategies. Over-50s already generate 42% of global spending, and this share is expected to grow dramatically in the coming decades.
In Italy, the impact is very clear. Over-50s control 67.7% of consumption, and by 2050, the share of over-65s will reach 34.6%. This factor will influence public policies and long-term corporate strategies.
“The Silver population is a strategic lever for economic development,” concludes Mancini. “Longevity will be one of the main drivers of growth.” To harness this potential, an integrated approach combining innovation and financial sustainability is needed.