SINGAPORE: Asia`s population is ageing faster than anywhere in the world, a study said Thursday, warning the swelling ranks of the elderly will cost the region $20 trillion in healthcare by 2030.

Health systems, businesses and families across Asia-Pacific will come under huge pressure as some 200 million people pass the age of 65 by then, according to the Singapore-based Asia Pacific Risk Center.

Yearly spending on caring for the elderly is expected to reach $2.5 billion five times the cost in 2015 the study said.

`The Asia-Pacific region is ageing at a faster rate than any other region in the world,` said A PRC executive director Wolfram Hedrich.

Surging growth in Asia over the past few decades prompted an baby boom in many Asia-Pacific countries,creating alarge andcheaplabourforce thatin turn boosted productivity and incomes.

But that trend is now reversing as the baby-boomers age, leaving the young to look after them either by staying at home or paying for their care.

`Many Asia-Pacific countries are transiting from a period when they reaped a `demographic dividend` to one where they face the prospect of paying a `demographic tax`,` the study said.

By 2030, there will be 511m elderly people in the region, out of 3.8bn, according to the study.-AFP