Seoul is aging rapidly, with the city’s population of those aged 60 and above expected to reach over 3 million by 2030, a report by McKinsey Global Institute showed Tuesday.

The report said Seoul will be the eighth city in the world with the largest population in their 60s. In South Korea’s capital, this demographic group will make up 31 percent of the total population, showed the report.

As of the end of 2015, 1.84 million of 10.02 million citizens in Seoul were aged 60 and over, or 18 percent of citizens.

Tokyo topped the world’s list, with an expected 13.2 million individuals aged 60 and above by 2030. This was followed by Osaka, New York, Rhine-Ruhr, London, Los Angeles and Nagoya.

The city which is anticipated to have the highest proportion of its population in their 60s is Punta Gorda, Florida, in the U.S., where 57 percent of the population will eventually be of this demographic group. Others in the top five include Orense in Spain, Imabari in Japan, Bradenton in Florida, U.S., and Andong in South Korea’s North Gyeongsang Province.

The report also predicted that by 2030, Western Europe will see an overall decline of 10 million people among those aged between 15 and 60. The number will also fall by 5.5 million each in Japan and South Korea.