In a world where economic and social issues are at the heart of concerns, Hessa Bint Essa Buhumaid, Minister of Community Development United Arab Emirates, highlights the crucial importance ofsilver economy. By highlighting its potential, it lays the foundations for a inclusive growth which promises to transform not only the economic landscape of the country, but also to promote the integration of different generations within society. This win-win model provides invaluable opportunities to build a harmonious and sustainable future, while highlighting the essential role of older people in community development.
At IGCF 2024, Hessa Bint Essa Buhumaid, Minister of Community Development, stressed the importance of silver economy to stimulate a inclusive growth in the United Arab Emirates. This approach aims to ensure sustainable economic development that benefits all segments of society, including older people. Its vision promises to transform demographic challenges into significant economic opportunities, integrating a wide range of services aimed at this growing age group.
The Silver Economy: A New Economic Paradigm
The term silver economy refers to all economic activities aimed at meeting the needs of the elderly, a rapidly growing population segment. According to Ms. Buhumaid, this economy represents a powerful vector to stimulate growth in the United Arab Emirates. By meeting the demands of an aging population, the Emirates can not only improve the quality of life of its citizens, but also strengthen its national economy.
A collaborative approach to gender balance
The minister also focused on the gender cooperation as the basis of this transformation. The UAE strives to promote equality while meeting the needs of its elderly citizens. By integrating women into the development of the silver economy, the country ensures that it takes advantage of all available skills, thus establishing a crucial balance for harmonious progress.
An active candidacy within BRICS
The United Arab Emirates aspires to strengthen its economic influence on the international scene. The government is committed to supporting the economic development of Global South by joining the BRICS group. This integration aims to promote economic and technical exchanges, thus stimulating initiatives, such as those linked to the silver economy, which will contribute to the inclusive growth.
The challenges and opportunities of the UAE economy
In the long term, the United Arab Emirates must face various economic and political risks. Assessments of economic indicators and investment conditions indicate that it is crucial to develop resilient strategies. In the context of the silver economy, overcoming these challenges is essential to create an environment conducive to innovation and sustainability.
A promising future driven by collaboration
Investment projects in Africa, particularly those led by Qatar and the Emirates, demonstrate a desire for diversification and expansion. By engaging strategically on the continent, these countries aim to establish new economic partnerships. This dynamic is essential to sustain the silver economy and strengthen links between communities.
Finally, with a growing GDP, particularly in the emirate of Dubai, the Emirates appear to be on the right track to capitalize on these new opportunities. There sustainability and adaptability will remain fundamental aspects of realizing the potential of the silver economy, while meeting the demands of a diverse population.
During a recent intervention, Hessa Bint Essa Buhumaid, Minister of Community Development of the United Arab Emirates, highlighted the critical importance ofsilver economy as an engine of inclusive growth. This approach aims to integrate the needs of older citizens while strengthening the economic fabric of the country. This initiative is not limited to simple support, but represents a real opportunity for transformation for the whole of society.
Understanding the silver economy
L’silver economy refers to all goods and services intended to meet the needs of elderly people. With the increase in life expectancy, the UAE recognizes the potential of this segment of the population. By investing in appropriate programs, the government can not only provide comfort to seniors, but also generate jobs and stimulate innovation.
Promoting social inclusion
The promotion of a inclusive growth is essential. Hessa Buhumaid insisted on the importance of creating environments that promote the integration of seniors into society. This can be done through initiatives such as intergenerational activities, mentoring programs and services tailored to their needs. By ensuring that the voices of seniors are heard, we strengthen the sense of belonging and value in each of them.
Driving innovation through the silver economy
Innovation is at the heart of adapting to the needs of older citizens. Businesses need to rethink their products and services so that they are accessible and relevant. This means investing in cutting-edge technologies suitable for seniors, thereby developing a thriving market. Hessa Buhumaid calls for collaboration between the public and private sector to exploit these new opportunities. Innovative partnerships can generate sustainable and profitable solutions.
Promoting gender balance
Another aspect highlighted by Hessa Buhumaid is the need to guarantee a gender balance in the development of the silver economy. This involves including women in leadership roles and giving them access to employment and training opportunities. By strengthening the role of women in this sector, the UAE can create a more balanced and prosperous environment for all citizens.
The Power of the Silver Economy
At the 2024 IT Governance Forum, Hessa Bint Essa Buhumaid, Minister of Community Development of the United Arab Emirates, highlighted the potential ofsilver economy to stimulate inclusive growth in the country. His speech highlighted the importance of recognizing and harnessing the skills of older people, integrating their experience into economic and social development. In doing so, the Emirates is committed to creating a more equitable and prosperous society.
Establish Inclusive Policies
It is essential that the UAE government develops inclusive policies which encourage the active participation of older people in various sectors. These could include tax incentives for companies that employ older workers, as well as tailored training programs to promote their reintegration into the world of work. By implementing such strategies, the country could not only strengthen its economy but also benefit from the wisdom and experience accumulated by these individuals over the years.
Promote Cultural Sensitivity
To maximize the impact of the silver economy, it is crucial to promote cultural sensitivity towards the needs and aspirations of older people. This can be achieved through awareness campaigns aimed at changing perceptions around aging and valuing the contributions of seniors. The Emirates can organize forums and workshops to encourage intergenerational dialogue, allowing young people to benefit from the wealth of experience of older people.
Create Job Opportunities
Another key recommendation is to develop targeted programs to create job opportunities for older people, particularly in growing sectors such as technology and tourism. The UAE could also foster entrepreneurship among seniors by providing access to financing and mentoring resources. This will not only strengthen their financial independence, but also provide them with a renewed sense of identity and structure in their daily lives.
Promote Community Initiatives
Community initiatives play a vital role in supporting the silver economy. The United Arab Emirates must encourage community initiatives organized by and for older people. This could include social clubs, leisure centers and intergenerational activities that would enable them to actively engage in society. By bringing together people of all ages, the country can strengthen the social fabric while promoting a dynamic of knowledge sharing.
Focus on Innovative Technologies
Finally, the implementation of innovative technologies is essential to meet the specific needs of older people. The Emirates must invest in the development of applications and digital tools that facilitate access to information, health services and leisure. By integrating appropriate technological solutions, older people will be able to better manage their daily lives and stay connected to society. This will also promote their inclusion in the growing digital economy.
