Peter Sika – University of Economics in Bratislava, Dolnozemská cesta 1, Bratislava, 852 35, Slovakia


4th International Scientific Conference – EMAN 2020 – Economics and Management: How to Cope With Disrupted Times, Online/Virtual, September 3, 2020, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-30-1, ISSN 2683-4510


The economic behaviour, needs and preferences of people vary in the individual phases of
their lives. The silver economy market is made up of consumers, employees or employers aged 50+.
The share of this population is an important target group for entrepreneurs, brings a wide range of
new products and services to businesses and has a significant role for the national economy as there
is a change in the understanding of the ageing process from a threat towards economic opportunities.
Although the ageing workforce and seniors in the Slovak Republic do not represent a strong demand
for market goods yet, their economic potential may not be negligible. The rapid ageing of the Slovak
population represents, among other things, an economic potential that can be exploited in favour of innovation
and improvement. Despite not a high level of pensions, seniors have considerable purchasing
power, which will generate an increasing demand for specific goods and services, which is an opportunity
for the labour market. In this paper we try to describe selected areas in which the silver economy
and the ageing population itself should be viewed as a challenge to new business opportunities. In particular,
these include health service and health care, spa care, the pharmaceutical industry, tourism,
the financial sector and, last but not least, construction industry. The silver economy will change the
rules of market forces in existing sectors and create a wholly new industry at the intersection of demographic
and technological changes with a high export potential.


Silver economy, Aging, Economy, Labour market, Development areas.


Baláž, V. (2011). Strieborná ekonomika I. časť.
Deloitte (2011). Consumer 2020, reading the signs. London.
Deutsche Welle (2005). Discovering the Silver Economy.
Dovaľová, G. (2011). Strieborná ekonomika v domácej a svetovej literatúre. Bratislava: Ekonomický
ústav SAV, ISSN 1337-5598.
European Commission (2015). Growing The European Silver Economy (Executive Summary) [online].
Husáková, M. & Rievajová, E. & Sika, P. & Šipikalová, S. (2018). The Reverse Mortgage as a Financial
Tool for Increasing the Living Standard of Seniors in the Slovak Republic. Journal of
economics, vol. 66, iss. 6, pp. 621–640.
Kaščáková, A. & Kubišová, Ľ. (2016). Participácia striebornej populácie v oblasti domácej neplatenej
práce. In: Relik 2016. Praha: Vysoká škola ekonomická, ISBN 978-80-245-2166-4, pp. 192–200.
MDVaRR SR (2013). Stratégia rozvoja cestovného ruchu do roku 2020.
Národné centrum zdravotníckych informácií (2018). Spotreba humánnych liekov a zdravotníckych
pomôcok v SR 2018.
Národné centrum zdravotníckych informácií (2019). Kúpeľná starostlivosť v SR 2018. http://www.
Páleník, V. a kol. (2012). Strieborná ekonomika v slovenskom, európskom a svetovom kontexte. Bratislava:
Ekonomický ústav SAV, ISBN 978-807144-205-9.
Páleník, V. (2015). Strieborná ekonomika v podmienkach Slovenska a oblasti možného uplatnenia.
In: Slovenská štatistika a demografia, 3/2015, pp. 70–84.
Poštová banka (2017). Najvyššie úspory medzi ľuďmi po 50-tke, majú šesťdesiatnici (16.5.2017)
Setnická, I. & Szüdi, J. (2016). Strieborná ekonomika ako nová výzva do budúcnosti pre Slovensko.
In: International scientific conference for Ph.D. students and young scientists. International
scientific conference. 9th International scientific conference for Ph.D. students and young scientists:
10, November 2016. Karvina: Silesian university in Opava, School of business administration
in Karvina, ISBN 978-80-7510-214-0, pp. 57–67.
The Bonn Declaration for the Silver Economy (2005). Silver Economy as an Opportunity for Quality
of Life, Economic Growth and Competitiveness in Europe. http://www.silvereconomy- europe.
Van den Berg, Pauline & Arentze, Theo & Timmermans, Harry (2011). Estimating social travel
demand of senior citizens in the Netherlands. In Journal of Transport Geography, vol. 19, pp.
323-331. ISSN 0966-6923.
of_senior_citi zens_in_the_Netherlands.
WIRTSCHAFTSKAMMER ÖSTERREICH (2009). Best Ager – Der Silberne Markt. Trends
& Handlungsempfehlungen für Ihr Unternehmen.

Download full paper



Share this

Association of Economists and Managers of the Balkans – UdEkoM Balkan
179 Ustanicka St, 11000 Belgrade, Serbia

Udekom Balkans is a dynamic non-governmental and non-profit organization, established in 2014 with a mission to foster the growth of scientific knowledge within the Balkan region and beyond. Our primary objectives include advancing the fields of management and economics, as well as providing educational resources to our members and the wider public.

Who We Are: Our members include esteemed university professors from various scientific disciplines, postgraduate students, and experts from ministries, public administrations, private and public enterprises, multinational corporations, associations, and similar organizations.

Building Bridges Together: Over the course of nine years since our establishment, the Association of Economists and Managers of the Balkans has established impactful partnerships with more than 1,000 diverse institutions across the Balkan region and worldwide.

EMAN conference publications are licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.