A golden opportunity in a silver Singapore

In this commentary, NTU Albert Winsemius Chair Professor of Economics Euston Quah and NTU PhD candidate Eugene Or write that as Singapore transitions into a “super-aged” society, businesses are gearing up to cater to this growing demographic that has its unique needs and also the money to spend on them. Businesses know that Singapore’s senior citizens have relatively high spending power on account of our Central Provident Fund system. Singapore is also densely populated and urbanised, making it easier for businesses to reach consumers. This is what makes the silver economy – broadly covering all economic activities of seniors – so lucrative. Business consultancy Ageing Asia had projected that Singapore’s silver economy would be worth $97.8 billion by 2025.

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