An increasing number of countries are facing the challenge of an aging population. Various global trends are causing a decline in birth rates and, consequently, a continuous increase in the proportion of the elderly population. Thanks to advancements in technology and medicine, people today are living longer and with better quality of life. This opens up new possibilities and underscores the importance of the older population, which, with certain adaptations, can contribute to expanding the workforce and thus provide longer-term contributions to the community. However, until necessary changes are made and conditions are created for the active inclusion of older individuals in the labor market, the aging population represents a significant challenge and issue. This negative trend affects both developing and developed countries. Authorities need to focus on various sectors to alleviate the strain on their social welfare systems, which are constantly increasing in cost due to the high proportion of the elderly population. As we are dealing with uncharted territory in this demographic challenge, it is unclear whether states will be able to fully resolve this problem, considering the long-term consequences it presents. Previous policies have not led to significant improvements, despite the older population and this entire issue becoming a priority. Time is required for the development of long-term population strategies, which could prove to be effective solutions. Progress demands significant effort to encourage the birth of younger generations and positively impact economic development.