THAILAND: Aging Thais Are New Eldorado For Marketing People

BANGKOK (ThaiNews.com), June 12, 2006: Changing demographics are creating business opportunities as proportion of older people rises, says a news agency report. Thai retirees are marketers' new business target in Thailand. This high-spending segment of the population is rapidly growing and is concerned about their health and maintaining their body in shape throughout their retirement. Health check-up clinics, retirement homes, health resorts and insurance plans for the elderly are catering for the demands of the anxious segment of the population. Great new investment opportunities are opening in Thailand as the country turns into an aged society. Health check-up clinics, retirement homes, health resorts, electronic goods and apparel for seniors, and financial plans for retirees are mushrooming. The growing group of elderly are not only high spenders but also very concerned about their health and later life security. According to Tanin Sonthiraksa, the average population increase is 1% per year while the annual growth of elderly people is 6% per year. In Thailand, between 8 and 9% of the population is aged 60 or above. Furthermore the ratio of elderly people will rise to 14% in 2017. Companies interested in this segment of the population should focus on activities reduce disability and maintain the quality of life of seniors. Successful companies focus on a protective approach to health as the elderly seek age management and adapted exercise programmes. Thais are also interested in keeping up to date and close to the young and enjoy taking learning or computer courses. Source: Seniorscopie