Demographic Disruption: How is Covid Changing the UK Population?
Trends Briefing: 29th April 2021 | 9am-10am | Register here
Covid-19 has caused sudden and dramatic disruptions to many walks of life. We’ve spent the last year working, communicating, travelling, shopping and socialising differently thanks to the pandemic.
It’s also changing our demographics.
This hasn’t been talked about much – demographic change usually happens slowly – but the first indications of really significant shifts have emerged. By some calculations, the number of non-UK born adults in the UK has dropped by 1.3m (700,000 in London alone) as the pandemic and Brexit have sparked something of an exodus. The birth rate is also likely to drop further once figures for 2020 are announced – few, during the long months of lockdown over the last year, thought the experience would be improved by adding children.
These trends alone could combine to significantly change long term predictions for the UK and other advanced economies, where similar drivers are also in play. Lower migration and birth rates accelerate ageing and will eventually lead to a higher old-age dependency ratio and maybe even faster decisions on retirement age and the pensions triple lock.
And they don’t happen in a vacuum. Many of the pre-pandemic demographic trends – in more deregulated and diversifying demographics by age, place and income – will continue to bear out over the years to come. Every business, organisation and public service is deeply affected by demographic change – underestimate the power of these shifts at your peril.
To understand how the pandemic is driving new demographic change, join us for our next Trends Briefing on April 29th. We’ll explore these trends and what they mean for businesses, organisations and policymakers.