Income and Consumption Patterns of Sri Lankan Senior Citizens and Subsequent Impact on Policies and Transportation

Sri Lanka’s population is continuously growing older. Some studies show the elderly population or senior citizens of Sri Lanka will rapidly grow to 30% with an increase in the dependency ratio by 2060. However, there are a considerable number of elders, who are still working and contributes to the country’s economy. The elders have different spending patterns depending on their level of income. Identifying the patterns of elderly income and expenditure are important in arriving at government policy decisions. Embedded within such initiatives will be policies targeting to address the continuance of social welfare catering especially to the needs of the elderly population. This paper focusses on identifying sources of elderly income and expenditure patterns in Sri Lanka and the resulting impact contribution towards the labour force.