Less than half of the Population will be in work in 40 years time

A report from the Spanish National Statistics Institute (INE), has found that less than half of the Spanish population will be of working age in 40 years time.

The INE predicts that by 2049, 31.9% of the population will be aged 65 or over, and that 29.07% will be aged under 16.

The report concludes that significant changes to the Social Security and Pensions systems will be required if 9 out of every 10 people are not in work.

The INE reports that the country’s population is set to grow by 2.1 million over the next 40 years, with the natural growth returning to negative numbers from 2020, but with a consistent arrival of up to 400,000 immigrants from 2019 onwards.