Gearing up for the grey: How an aging population is creating new business opportunities

[webfact]

 

By Thai PBS World

 

The world’s population is getting older. And Thailand is among the fastest-aging societies in the world. Of its 67 million population, more than 12 million Thais are elderly, according to the Department of Older Persons, Ministry of Social Development and Human Security, with the majority of them in the 60-69 group.

 

Japan became the world’ first ‘super-aged’ society in 2006. By 2029, Thailand is expected to join Japan in this demographic trend, according to recent research carried out by Kasikorn Research Center (KResearch). This is due to a decrease in the population in the past three years.

 

The research shows that the number of newborns and adolescents between 2020 and 2022 has fallen.

 

The grey phenomenon is one of the biggest challenges that will face the Thai new government in setting policies. It also affects the sustainability of the country’s social welfare schemes and health care.

 

On the flip side, however, the aging population offers promising business opportunities, which many companies are looking to exploit. Seniors are living longer and consuming more. They also use more specific products and services that fit their lifestyles.

 

Analysts from Thailand’s leading research houses see new business opportunities this demographic shift brings in many sectors, among them age-friendly housing; medical and assistive devices; food and nutrition; and age-friendly lifestyle and wellness services.

 

Full story: https://www.thaipbsworld.com/gearing-up-for-the-grey-how-an-aging-population-is-creating-new-business-opportunities/

 

 

-- © Copyright Thai PBS 2023-05-02

 

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[JoePai]

60-69 group - old?? They're 'aving a laf

[stoner]

8 minutes ago, JoePai said:

60-69 group - old??

yes.

[hotchilli]

4 hours ago, JoePai said:

60-69 group - old?? They're 'aving a laf

You beat me to it.

[VocalNeal]

4 hours ago, webfact said:

Analysts from Thailand’s leading research houses see new business opportunities this demographic shift brings in many sectors, among them age-friendly housing; medical and assistive devices; food and nutrition; and age-friendly lifestyle and wellness services.

Funeral services????????

[RichardColeman]

Think most governments of the world would prefer the old people to mostly be ingredients involved in the production of Soylent Green !

[3NUMBAS]

in the uk       coffee bars   are spring up everywhere for bored geriatrics to park their bottoms all day 

[Purdey]

Just give their jobs to robots and AI.

[Jotnar]

Most countries consider 65 as elderly, older residents, as do charts that track such info.  Thailand not even close to Japan or other countries to be considered having an older population:

https://en.wikipedia.org/wiki/List_of_countries_by_age_structure

 

https://data.worldbank.org/indicator/SP.POP.65UP.TO.ZS