Human capital, innovation and the productive ageing: The role of the HEI in stimulating growth in the ‘lifestyle’ region through learning in a senior population

This paper examines how low relative economic growth and high service and infrastructure costs in non-metropolitan regions that are increasingly attractive to lifestyle-seeking seniors, can be offset by focussing more positively on the human capital dimension of this cohort through closer engagement with higher education learning and innovation. The paper reports on research work underway in two Australian regions with rapid population growth. These regions have the highest proportion of their population aged 55 and over. The project will have important policy and practice benefits as it relates to the increasing spatial incidence of an ageing population, stimulating regional economic growth, and processes of regional innovation and learning through HEI engagement, institutional planning and labour market programs. At present, many senior-aged persons attracted to ‘lifestyle’ locations are allowed to let their knowledge, networks and skills ossify through a lack of engagement with processes of learning and innovation and institutional impediments of a structural and attitudinal nature. It represents poor return on sunk investment in human capital, has cost impacts on enabling health and community services and infrastructure and does not contribute as positively as it could to regional growth outcomes through productivity gains. The spatial impact of this will exacerbate as the demographic profile continues to age. Higher education in these places could be a key instrument in the learning and innovation required to realise the greater productivity gains from senior-aged human capital and the consequential growth and health outcomes at the local and regional scale