As China enters a moderately aging society, its silver economy is becoming a brand-new development engine.
The just recently launched special efforts to increase intake highlight the need to tap into the silver market by promoting industries such as anti-aging services and senior tourism.Chinas silver economy is projected to reach 30 trillion yuan ($4.74 trillion) by 2035, comprising 10 percent of the nations GDP.
Enterprises in the sector are also growing, with 824,000 silver economy-related companies taped in 2024.
Older adults account for over 20 percent of Chinas tourists, with 40.8 percent taking a trip one or two times a year and 17.6 percent traveling three or more times every year.
A report by Trip.com reveals that cruise bookings by individuals aged 50 and above almost doubled during this years Spring Festival, indicating a rise in need for recreation among older adults.Meanwhile, web usage amongst those aged 50 and above increased from 32.5 percent in December 2023 to 34.1 percent in December 2024, showing the increasing digital engagement of Chinas senior population.