Profiting from the silver economy

SINGAPORE (Oct 19): Longevity is seen as an enormous business opportunity, especially in rapidly ageing economies countries such as Singapore, where people aged 65 and above are the fastest-growing demographic segment.

Kanwaljit Soin, a former nominated member of parliament and founding president of non-profit centre Women’s Initiative for Ageing Successfully, believes this presents an opportunity that is  “as momentous as climate change”.

Speaking at The Longevity Summit organised by The Economist last month, Soin says: “You have to look at the upside of ageing. Older people are a fabulous economic addition and they are also social capital. When we talk about economics and the silver economy, they are going to be consumers… and businesses have to wake up to it.”

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