Note how the ending echoes the opening, a technique often used in the compre passages....
Singapore became an aged society in 2017, and is set to attain “super-aged” status in 2026. By 2030, one in four citizens will be aged 65 and above, up from one in six now. With our excellent healthcare system, we may live longer.
As it is, Singapore aspires to become a Blue Zone 3.0. Blue Zones are places with the healthiest, longest living populations, where people may live to 100 and beyond.
At the same time, our resident total fertility rate (TFR) has dropped below 1.
The post-65 of today and tomorrow are very different from the preceding generations. Many are better-educated, have retirement savings, and will spend on businesses who empathise with them.
According to Ageing Asia Alliance, an Asia-Pacific industry alliance on the business of ageing, Singapore was ranked as the country with the biggest silver economy potential in terms of the capacity of the ageing population to spend, or be supported by their children. In the Asia-Pacific region, the silver economy market is projected to be worth US$4.6 trillion ($6 trillion) by 2025, catering to 600 million seniors above 60. The silver sector is slated to be a US$72.4 billion market in Singapore by 2025.
Enterprise Singapore shared some market opportunities for local firms to tap the silver dollar: telemedicine, health tech, elderly nutrition and assisted living.
It is not a sunset but a sunrise industry...Catering to the post-65 is not just a localised business, she added. Singapore can be a tourist hub for older tourists too. After all, it is a safe country with an excellent healthcare system.
more are catering to the silver market. For example, Digital Gastronomy, an SUTD start-up specialising in 3D-printed food technology, provides feeding solutions to seniors with swallowing difficulties by 3D-printing pureed meals that are safe, healthy and visually appealing. It is developing a food printer that can be integrated into the kitchens of hospitals and nursing homes to produce soft meals at a faster speed compared to commercial food printers that are currently available.
Qn: Assess the extent to which different age groups in your society are valued equally. (Cam. 2022)
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