Investing in Senior Living Facilities
The world’s population is growing older and it is predicted that by the year 2030, adults older than 60 years will outnumber the children aged 10 and below. Statistics also show that North America and Europe have the fastest aging populations. If the senior’s population keeps growing at that rate, by 2050 nearly 25 percent of the population in these two continents will be seniors. So what does this mean for the investors? Considering that seniors control an increasing proportion of global wealth and spending, investors stand a chance if they target this population.
According to Senior Guidance, housing and other senior facilities take the lead when it comes to senior’s needs and wants. However, there are other opportunities for the investors apart from these two. In this article, we illustrate how the aging population offers more investing opportunities. Keep reading to find out some of the opportunities that the seniors offer the investors.
Technology for the Seniors
A large population across the world use technology to accomplish various things. In America alone, seniors over 65 are embracing different technologies and are ready and willing to learn them. Even better, they want to incorporate new technologies into their daily lives. A study that was carried out by the Pew Research Center Survey, found out that seniors remain positive to new technologies. Despite the view that seniors seem less likely to use technology, they believe that technology is good for the society.
Therefore, if you are in the technology industry, you can consider coming up with new technologies for the seniors. Examples of technologies that the seniors have adopted include mobile applications like senior living Apps and Banking Apps, the social networking platforms like the dating websites for seniors, and the medical field applications. Therefore, for the programmers and developers looking for new areas to invest in, the seniors are a good population to target. Offer innovative technology that makes life easier for the seniors. Also, consider coming up with customized technological solutions that the seniors will want to use.
Special Housing for Seniors
Another lucrative opportunity that the seniors offer investors is around the real estate industry. Senior citizens are no longer comfortable living in the senior assisted communities. They want to live in seniors apartments with special amenities for the seniors. Therefore, this is another promising sector that investors can get into. Those that have already started building and selling or letting senior’s apartments are already making their cool money.
Consider that as the aging population increases, there is an increase in demand for seniors housing. Therefore, this is a great opportunity that investors are presented with. Seniors are looking for sizeable houses that are suitable for them and designed to meet their special needs. This includes housing in urban and semi-urban areas too. Basically, seniors have varying wants when it comes to housing. You will find that some want to continue living in the same towns where they worked while others want to retire to new places. Therefore, this is an open opportunity for the real estate investors targeting the seniors.
Provision of Specialized Seniors Health Care
Good health is also a top priority for the aging population. In the US, the percent of the economy that is spent on health care for the seniors aged 65 and above exceeds 5%. This proportion is expected to double by 2030, and by 2050 will have tripled. Therefore, this shows that the seniors are in demand for health care. The investors, who are interested in medical field, can diversify into the provision of health care for the seniors. Note that research shows that an overwhelming majority of senior health care is not just paid for by the seniors! Instead, private insurers and government programs dedicated for the seniors pay for the senior’s health care. This includes paying the specialized doctors and workers at the seniors assisted living facilities.
Therefore, setting up a health care institution dedicated for the seniors is a good opportunity for the investors. This also includes setting up senior living assistance organizations where you offer specialized care for the needy seniors. In addition, you will find that a majority of seniors are ailing from diseases like Adult onset Diabetes, Parkinson’s disease, Glaucoma, and Lung disease. These require specialized treatment and special equipment. Therefore, investors can set up centers where seniors can find these services. This includes provision for mobile health care for those who want to be treated from home.
Luxury Travel Services for Seniors
Today’s seniors are among the healthiest aging age group and therefore are living an active lifestyle. This can be illustrated by their spending habits. In addition, retirees have more leisure time and so are more likely to take a cruise to world’s top tourist attraction. Therefore, offering global travel services for the seniors can pay back very well. This is not just traveling services, but personalized luxurious travel for the seniors. Therefore investors can target luxurious cruise lines, luxurious hotels and luxurious airlines that cater to the senior’s travel needs.
Seniors are less sensitive to a recession as most of them have already made their monies. In addition, they have invested in top companies and are already making money. In this regard, the investors can target them with attractive travel packages for the seniors. You will be surprised by the high number of seniors who will be willing to participate in these luxurious travel plans for the seniors.
These are among the top investment opportunities that the global aging economy offers investors. As the world shifts to a technology-enabled way of doing things, the seniors want to join the bandwagon. Therefore investing in special technology for the seniors is a lucrative opportunity. The seniors are also looking for seniors housing and therefore real estate industry with a special focus on housing for seniors is another opportunity. Specialized medical care for the seniors also offers a good opportunity for the investors. We have seen that seniors want better attention to ensure they live a healthy life. Lastly, today’s aging cohort is made of healthiest and active population willing to travel around the world. Therefore, investors can offer them luxurious travel packages and earn from this opportunity.