With nearly one third of population to be aged over 65 years in less than 20 years of time, the silver hair market in Hong Kong will create huge opportunities for business across different sectors.
However, the market is yet to be unlocked and challenges lie ahead as the government has not implemented policy initiatives to attract private sector, say industry experts.
“We see the market potential and we are very interested in entering the market. But we cannot find a formula that can make profits,”said Charles Lam, Managing Director, Real Estate at Baring Private Equity Asia .
“I know the demand as I will have fallen into this group by the time,” said Lam.
Lam sees a big portion of the aged people in Hong Kong in next 20 years will come from middle income or upper income groups, who are looking forward better living style in a community that provides nice environment with recreational and care taking facilities. That creates business opportunities.