Experts warn that demographic trends will shape living standards, labour markets, and the sustainability of public finances for many years to come, and a rapidly aging population will place growing pressure on our care systems
Ireland is expected to reach its peak population in around three decades(Image: Getty Images/iStockphoto)
Ireland is expected to undergo significant demographic shifts. The National Economic and Social Council (NESC) noted in its report that Ireland has already reached two notable milestones: ‘peak baby’ in 2010 and ‘peak child’ in 2024.
As a result, Ireland is expected to reach its peak population in approximately three decades, according to the NESC. However, there are specific regional variations to these demographic changes.
“Ireland risks a downward vicious cycle where it has insufficient workers, therefore insufficient tax revenues to support the aging population, and insufficient investment in infrastructure,” the Council said. But it is not necessary that this will happen.
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The Council added that rather than a downward cycle, Ireland could see a shift to a healthier and more balanced cycle, with an increase in birth rates, more people joining the labor force and health services programmed to support early intervention.
“Demographic change is inevitable, but it does not have to be destabilizing,” Dr. Gráinne Collins, Policy Analyst at NESC, said.
Experts warn that Ireland should plan ahead for the high estimates of population growth and recalibrate as needed(Image: NESCIreland/X)
How can we prepare for population growth in Ireland?
The NESC has a list of recommendations to prepare for demographic change, as reported by Irish Central:
1.) Ireland must invest in demographic modelling and research into the motives that affect demography, such as the decision to have a baby or to emigrate.
2.) Ireland should plan ahead for the high estimates of population growth and recalibrate as needed.
3.) The government must coordinate policies across a wide range of areas to ensure that demographic changes become a source of strength.
Dr. Larry O’Connell, Director of NESC, explained, “Ageing, falling fertility and shifting migration patterns are reshaping societies across Europe, and Ireland is no exception. While Ireland has undergone a remarkable change in recent decades, it would be unrealistic to assume this pace can continue indefinitely.”
“Demographic trends will shape living standards, labour markets, and the sustainability of public finances for many years to come, and a rapidly aging population will place growing pressure on our care systems,” he added.
“Long-term planning is therefore essential as we confront these profound shifts. With a positive and ambitious approach, Ireland can ensure that demographic change becomes a springboard for a more cohesive and inclusive society.”