Hong Kong's Over-65 Population Projected to Reach 36% by 2046, Finance Chief Says
Financial Secretary Paul Chan Mo-po, speaking at an event held by the Senior Citizen Home Safety Association, said population ageing is a shared global challenge and that Hong Kong's population aged 65 and above is projected to account for 36% of the total by 2046. He cited estimates that consumption spending by residents aged 60 and above will rise from RMB 340 billion in 2024 to nearly RMB 500 billion by 2034.
Financial Secretary Paul Chan Mo-po attended an event held by the Senior Citizen Home Safety Association. At the event he discussed population ageing, the silver economy, cross-border elderly care, and the application of artificial intelligence in areas such as medical diagnosis and daily care.
Citing estimates, he said consumption spending by Hong Kong residents aged 60 and above will rise from RMB 340 billion in 2024 to nearly RMB 500 billion by 2034. He noted that as living options for the elderly extend to the Greater Bay Area, cross-border elderly care involves cross-border coordination of service referrals, health information sharing and support arrangements. He also mentioned that robots can perform household chores and provide companionship.
Why this event matters
The event has a measured impact on 5 industrys. The strongest current signal is positive for Elderly Care, with intensity 60/100 and 70% confidence over a long term horizon.
Elderly Care
- Direction
- positive
- Intensity
- 60
- Confidence
- 70%
- Horizon
- Long term
Health Management & Diagnostics
- Direction
- positive
- Intensity
- 50
- Confidence
- 65%
- Horizon
- Long term
Robotics
- Direction
- positive
- Intensity
- 45
- Confidence
- 60%
- Horizon
- Medium term
Artificial Intelligence
- Direction
- positive
- Intensity
- 40
- Confidence
- 55%
- Horizon
- Medium term
Tourism
- Direction
- positive
- Intensity
- 35
- Confidence
- 50%
- Horizon
- Long term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.