Population aged 70 and older

IBISWorld forecasts the New Zealand population aged 70 and older will increase by 3.5% in 2024-25, to total 639,049 people. This growth is significantly higher than growth in the overall population, a trend which is indicative of New Zealand's ageing population. This trend carries on long-term trends that have seen New Zealand's population grow proportionately older. This age group is expected to account for approximately 12.0% of the population, up from 10.6% in 2019-20.

Growth in the New Zealand population aged 70 and older has occurred at a significantly faster pace than growth in the overall population. This trend is indicative of New Zealand's expanding life expectancy and its long-term trend of an ageing population. Advancements in medical technology and healthcare services have expanded the life expectancy of New Zealand residents over the past five years, meaning individuals generally remain in this demographic for longer. In addition, rising health consciousness among New Zealand residents has encouraged people to take better care of their health and wellbeing, further contributing to rising life expectancy.

The lack of net migration during the pandemic did not have a large effect on this demographic, as most migrant arrivals into New Zealand are in younger age groups. Moreover, despite people in this age group often being the most vulnerable to COVID-19, the number of deaths due to COVID-19 was far lower in New Zealand than in other countries. Additionally, the first members of the baby-boomer generation entered this demographic in 2016-17, which has driven consistent growth in this age groups proportion of the overall population. The baby boomer generation includes people that were born between 1946-47 and 1964-65, when birth rates increased dramatically due to post-war government policies actively promoting population growth, largely through migration. Overall, IBISWorld forecasts the New Zealand population aged 70 and older will grow at a compound annual rate of 3.5% over the five years through 2024-25.