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Aging and Consumption Patterns in Turkey: Analysis Based on Regional Data
Abstract
An aging population is one of the most important issues affecting many areas such as labor and capital markets, social protection, social security, housing, and especially the demand for goods and services. Specifically, analysis of consumption patterns has become essential to prepare long-term plans for production structure and investment because consumption preferences and needs may change as a result of the aging population. Therefore, the aim of this study is to analyze how aging affects consumption patterns in Turkey considering regional heterogeneity and the effects of macroeconomic factors over the years. For this, panel data analysis was performed using data on 26 regions of Turkey over 2008-2018. Results show that population aging affects most of the share of items in household consumption expenditures. Thus, Turkey should be prepared and make development and investment plans considering the aging population.
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