People aged 50 and older have become one of the strongest forces in Puerto Rico’s economy, according to a new study presented by AARP Puerto Rico titled "De Reto Demográfico al Desarrollo de la Economía de la Longevidad." The segment, roughly 1.3 million people, represents 44% of the population and generates about $60 billion in economic activity, close to 47% of the island’s Gross Domestic Product.
In 2024, households headed by someone 50 or older made about $50 billion in consumer spending, equal to 67% of all household spending in Puerto Rico, meaning two of every three dollars spent by island households come from the 50+ market. The study challenges the perception that older adults’ consumption is concentrated in medical services, showing they also drive housing, technology, tourism, entertainment, communications and financial services.
About 388,000 people 50 or older were in the labor force in 2024, 29% of all workers. Roughly 70% of health services jobs, about 64% of leisure and hospitality jobs, and about half of professional and business services jobs are tied to this segment’s economic activity. State director José R. Acarón said Puerto Rico faces a historic opportunity and called on government, business, academia and community organizations to factor longevity into planning, citing Japan, Singapore, Spain, the United Kingdom, Germany, Finland and the United States as examples. The study warns the greatest risk is economic policy that ignores the demographic reality.