China’s population is shrinking and ageing, with the elderly population expected to surpass 400 million by 2035. In response, the government is promoting the “silver economy,” targeting industries like health care, tourism, and wellness products to cater to older citizens.
As retirees are set to become the wealthiest demographic, opportunities abound, especially in sectors such as education and leisure. Despite growth in silver-economy enterprises, challenges remain, including consumer protection, policy implementation, and the need for expanded social services.
The future of China’s elderly population hinges on balancing economic opportunity with comprehensive welfare support. The numbers in China are bigger, but the UK faces a problem / opportunity in similar proportion. By 2050 nearly 50% of the UK’s population will be over 50. This article in the Economist explains the opportunity in detail. https://www.economist.com/the-world-ahead/2024/11/20/can-china-turn-ageing-into-an-economic-asset
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