For society as a whole, a declining old-age support ratio points towards an increasing tax and economic burden on our working-age population. A shrinking and ageing population could also mean a less vibrant and innovative economy. There will be a shrinking customer base in Singapore, and companies may not be able to find adequate manpower. Multinational companies may therefore choose not to set up operations in Singapore, and Singapore-based businesses may down-size, close down or relocate. As a result, we could see slower business activity and fewer career options that will match the higher aspirations of Singaporeans. With an increasingly educated and mobile population, more of our young people could choose to leave for other exciting global cities, hollowing out our population and workforce, and worsening our old-age support ratio.