(VOVworld) – The population of Asia-Pacific region is aging faster than anywhere in the world, and the rise of the elderly will cost the region 20 trillion USD in healthcare by 2030.

Asia's aging population to cost 20 trillion USD by 2030, study said (Photo: VNA)

According to a study released by the Singapore-based Asia Pacific Risk Center (APRC) on Thursday, there will be 511 million elderly people in the Asia-Pacific region by 2030. Japan will become the first "ultra-aged" country, with elderly people accounting for 28% of its population, while a fifth of people in Hong Kong, South Korea, and Taiwan will be 65 or older.

The Center warned that health systems, businesses and families across the Asia-Pacific region would come under huge pressure as some 200 million people pass the age of 65 by 2030. Moreover, governments would need to invest heavily to care for their aging populations, warning the current level was "unsustainable", as medical costs are growing faster than the economy in many countries.