Retirement Homes: Growing Market Considerations for an Aging Asia

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Keywords: Retirement Homes, Elderly, Aging, Asia

Abstract


This paper explores the aging population in Asia and the new business opportunity this opens for retirement homes. As market demographics shift, businesses respond accordingly
by developing market strategies to address new consumer needs. Moreover, businesses also address the societal implications of market changes. In Asia, the rapid increase in the
elderly population, coupled with urbanization and geographical dispersion, are making it harder for children to take care of their aging parents per traditional norms. As a
result, there has been a large uptick in the demand for retirement homes. Both foreign and domestic firms have an opportunity to benefit from this up and coming retirement home
industry. Foreign companies can bring subject matter expertise in the retirement home model, while domestic companies can utilize their in-depth understanding of the societies
in which these businesses will operate. Capturing both levels of expertise will bode well for companies looking to capitalize on retirement home market opportunities in Asia.

This paper will examine (1) the current and projected shifts in the age demographic in Asia, (2) the subsequent rise of retirement homes in response to this trend, and (3) the
market considerations and implications for firms entering this space.

Published
2019-10-28
Section
Articles