A new generation of retirees has emerged in China, many of whom are healthy and energetic, leading to the rise of elderly “migratory birds” who move to different places for better weather and living conditions. This trend has injected new vitality into the silver economy and boosted tourism and small businesses in various regions.
With China’s aging population reaching 297 million people aged 60 and above, the country is focusing on strengthening the silver economy. The current scale of the silver economy is estimated at about seven trillion yuan and is expected to reach 30 trillion yuan by 2035.
Retirees like He Ping and Wang Qingchun are part of this trend, seeking cooler places in the summer and warmer places in the winter for a better quality of life. They are driving demand for elderly-friendly accommodations and services in popular destinations like Yunnan and Changbai Mountain.
The influx of elderly tourists has led to increased tourism revenue and boosted local businesses, such as homestays, restaurants, and stores. As more seniors choose to travel and live in different places, there is a growing need for health care services and support for their lifestyle.
Experts believe that the silver economy plays a crucial role in expanding domestic demand and improving the well-being of the elderly. By providing cross-regional medical insurance and market-oriented services, China aims to facilitate the seasonal migration of elderly citizens and enhance their quality of life.
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