India's Senior Living Market to Reach $12 Billion by 2030 | Vantage with Palki Sharma
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- Опубліковано 15 тра 2024
- India's Senior Living Market to Reach $12 Billion by 2030 | Vantage with Palki Sharma
Senior living is enjoying increased acceptance in India. Senior living includes retirement homes, nursing homes, and assisted-living institutions. They offer medical care and social bonding opportunities to elderly. India's senior living market is worth about $3 billion. By 2030, it is expected to reach $12 billion. After all, India is home to more than 150 million elderly people. And by 2050, every fifth Indian will be above the age of 60, making up 17% of the world’s share. But senior living is in its nascent stage in India. Meanwhile, it is well-accepted and more popular in countries like the UK, America, and Australia. But why is senior living enjoying increased popularity in India? Palki Sharma tells you.
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India | Senior Citizens | Silver Economy | Living Market | Potential | Firstpost | World News | Vantage | Palki Sharma
#india #seniorcitizens #livingmarkets #potential #economy #silvereconomy #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
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Senior living is vital in India. The Modi Govt need to provide for these needy families who live on minimal budgets to survive. The culture of Senior living is one in which the families provide the care giving with compassion love love care to appreciate their senior and elderly family members in their final chapter of life. Great report Palki.
This generation seniors are blessed to have a stable pension income and homes , next generation lives are going to be tough who worked mostly in private secotor unstable careers.
Most seniors in India don't get pension .And many don't have Health Insurance. That's the Middle class . Lower income group is a different story . They have little in terms of any financial security & mostly are dependent on their family to help them as they get older
In our Eastern Civilizations our Family is one of the MOST IMPORTANT THINGS IN LIFE. We won't come into existence without our Family.
Its not a luxury though,
In places like Coimbatore, where retirement villas are booming, for 15-20k per month u get all facilities from rent, to medical care and 3 meals a day!
Even delivered to ur room if u r unable to walk to the common mess area
A lot of senior citizens esp over 75 prefer moving themselves..even for temporary period
Esp the ones with NRI kids
Kids dont hv to worry about them falling down or getting robbed..(many cases in cities these days)
Parents gets company of other people of their age groups and all senior facilities!
It makes a lot of sense..
They can infact rent their own homes and use that money for the retirement home ..so even financially its a win win
Very true I live in one with my mom. It helps tenfold for all stakeholders. Yes the business vertical needs to understand a lot more about care giving the services and facilities. Folks are new in this space so they are learning. Coimbatore and Pollachi through Kerala is a huge hub for retirement communities and living spaces
Taking care of the elderly population is indeed a big responsibility🤔
Tragically, young people with bloated incomes treat old parents as "problems" even in India.
It is sad.
It's a personal choice.
What you see Yourself = human
What govt sees you = economy
Strong economy= Better living standards
@@amandandyan5468 strong economy, rich gets richer
@@MrSatadal poor gets work
Where seniors live happily blessings will be abundant. They have right to life and enjoy their wealth and live happily with their family for all the pain they have taken in bringing up their younger ones in their hopeless young age. Hope this generation retains respect and value for elders and voice for Indian culture valuing family❤
In Doraha, Punjab, there is Heavenly Palace which is housed large number of Senior citizens from far places like Delhi, Uttar Pradesh etc. This place is like 5star building.
India should go for high deposit
rates of 10% because there is lack
of demand due to massive unemployment and senior citizens
have no pension still deposit rates
are too low.
The Lunatic/Selfish West doesn't get to decide what happens in Bharat. Unlike the West, We respect our Family Members. OUR PARENTS RAISED US AND TOOK CARE OF US SO WILL REMAIN WITH OUR PARENTS TILL DEATH AND BEYOND.
I respect you
Don't be so self righteous...I come from an extremely good educated and rational minded Indian family and I've seen close relatives treat their parents like a burden!!
Despite getting all the good moral values and right environment..
Kids can (doesn't matter where in the world) can become greedy and selfish! It's human nature!!
It's better to live anywhere honourable life with someone ur age in a retirement home rather than listen to abuse and mental torture of ur kids in ur own home!
@@user-jn7bq8wh1e Thank you for your rational comment. Yes have experienced this with my mother and her extreme generosity to her whole extended family since the age of 31 when she was widowed. Live in the West and would be very embarrassed when my siblings would take take and take.. Her sister refused to visit her because she felt depressed in her company although she happily took millions of rupees. Sheer Greed.
Stop blaming the West. The same West which millions of illegal Indians migrate to with the help of Agents/People smugglers and Modi begs for visas only in the West. Just tone down your arrogance against the West cause the Western diaspora send remittances which prop up your GDP. According to world bank Indians' remittances are the highest in the world.
@@agnescraig2912 almost every lower economic family in India...even today even in big cities is like that!
Terrible customs like dowry.. although was introduced by invaders in India still persist today unfortunately!
Most middle class has come out of it but lower class blue collared labour class still practice it to this day
N family problems spec die to money is a big issue...
Even the rich fight for them..
But idiots here keep behaving like holier than thou!
They forget...this isn't the advanced Ancient Indian civilization anymore!
Modern India is as corrupt and wretched as any other nation on the planet...
Ofcourse there are pros n cons to each society n nation
*ALL THIS MEANS IS THAT CHILDREN NO LONGER WANT TO LIVE WITH THEIR OLD PARENTS*
Correct. In todays metro cities in India, cost of living is very high and jobs are less with massive competition and that is why most parents have only one child (except some communities) . It is very hard for the children to take care of themselves with an insecure job and permanent automation - let alone supporting their old parents, medical bills, nursing support, medical ailments. That is why there is something called "Retirement Planning" and if you have not done any retirement planning during your youthful life, you are going to pay the price in your old age.
@@saviofrancisfernandes413 Support of children is part of the Retirement planning at least in India. Parents invest their finances, resources, physical effort, emotions & younger days in their kids & then what ? Once adults, children disappear from their lives or just become the occasional visitors ? ..
That's as good as having guests in the house for more than 2 decades, guests who are parasites feeding on everything that the parents have
They want to ,times are changing the development is a blessing but also have some drawback , but the family values remain specially in big cities
Also ma'm this is the era of nuclear family, society is changing. It is rightly said ma'm you should earn something in your youth to live with dignity in your old ages, because day by day our physical working capacity is diminishing 👨⚖
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Healthcare cost needs to be of quality and afforadbale. Only rich can afford community homes.
Our ancestral tradition taught us that taking care of the elderly people & giving tender loving care to your grandparents & parents is equal to serving God.I It's much more than going to temple & offering prayers. The first is your action towards elderly. Action always speak better than words.You feel eternally blissful when you care for the elderly & earn their Blessings 🌹🙏🙏🙏🌹
Very true
Good one....
If you can afford such a luxurious retirement home, you can afford personalised care even when at home. Most people who end up in retirement homes in here, are not the privileged ones. They are the ones whose children refuse to take care of the very parents who raised them.
This market is only for 20% of top rich in India while common people still suffering.
Rich don't need senior living. They can live in their homes supported by paid care givers. This is for the Middle class
@@altmosetz_01
The rich and upper middle class are not more than 15% of the total population.
Why do you want to live like these fools. Respect your parents and be with them eventhough you are poor.@mandarp9472
@@vishnuvardhan3047 Please stop calling people names. Stop also lecturing ppl with a different perspective. Respect is earned and is not an entitlement of Parents who bring children into the world with zero input from the children.
You count yourself in :), good video.
❤
🙏
If market get into mind no problem ever be solved it just grow and multiply ..
senior living is something which a few categories of ppl might find as a boon, say those who were single or the children gone away etc, and bascially those who dont have any younger members to care for them,
India needs huge old age homes , govt & pvt operated.
It might sounds taboo from first second but we should put a thought to it.
Firstpost, have you found any cases of "hikikomori" in India.
I fear i might become one such example. Need survey on this and please report.
Senior living- may be more categorical data analysis is needed. For those seniors more dependent on help due to physical inability reports suggest abuse and shorter life span in elder care facilities.
Green Valley Paradise Retirement Home Manipal 🏡
I want to end up there once I am done with my career. Lost both my parents last year in Mangalore.
India has been a poor country for a very long time. People gave birth to too many children whether they could afford or not. This was because in the previous generations there was a high incidence of infant mortality. So, the population has grown to unmanageable levels. There is too much competition for everything these days. Everything costs a lot. Taking care of aged parents has therefore become a big challenge, not only in terms of money needed for the care, but also the distance between working children and their old parents. Often the children go to other cities or even other countries for finding jobs. To some extent we can say that modern life has given way to selfishness. But it has become almost unavoidable. Children can’t be blamed for that. There is one other point that needs to be mentioned. People have neglected their health in their younger years and therefore need care from other people in old age. If you eat healthy food and exercise regularly you will be in a better shape to handle old age. Having said all this, old age homes are not all bad. Some of them are luxurious.
We are all will get there.. hmmmm ☹️.. why fighting..?
We will all get there by abandoning our own Parents?
I think we should not follow what the western are doing instead make it compulsory to have senior friendly apartments in a normal residential apartments. This way elderly will not feel isolated living amoung other elderly rather be motivated seeing young kids around and hearing them play.
Government should strengthen their hospitals.
We have something known as Extended Family Tree. Seniors living in retirement homes is an Insanity which started in the West. Stop trying to import that Insanity into Bharat.
Insanity from the West into Bharat. What an arrogant comment when millions of Indians are paying smugglers to go to the Insane West even war zones like Russia Israel what can be more Insane? Indian diaspora top the list of Remittances according to the World bank and Modi goes rallying the diaspora on Western stages and requests visas for Indians in the West Only. Get off your high horse and welcome to te real Bharat 1.4 billion people and Poverty.
Kids are forced to migrate out of India considering very cheap 1 dollar per hour salaries offered by chronic capitalists like Narayan Murthy in India. This leaves parents to fend for themselves and good senior living communities with on site ambulance and a nurse for first aid will save lots of lives which otherwise will end prematurely. First and foremost restrooms should have fall alert systems
🔱🇮🇳🔱🕉️🔱 Har Har Modi. Jai Hind Jai Sri Ram
Per Palki the world talks about India all the time, about what, what about India
Meanwhile Govt is doing absolutely nothing 🤨
Why Govt ?
But i think , if we hindus religiously follow our culture, then we shouldn't need these old age homes.... because our parents took care of our entire growing age and it's time to pay them back... respect the elders and treat them as an asset in the family.... 🙏
This mindset is set in the past. As a parent it is my responsibility to look after them and not the other way round. Hindu religion or culture should never be a criterion for reciprocating as children did not ask to be brought into this world. Parents decided to have children and today in India irresponsible parenting has led to out of control population = poverty lack of food education sanitation joblessness. Modi/Hindu high priest religious follower of culture feels compelled to encourage. Rightly so. India has become the supplier of Human resource = slave labour going to war zones Russia/Israel.
palki, stop freaking out. India never gets old. India #1, India #1, India #1
Dude, India's average age is now 29 now. By 2050 there will be 25% of the population if we go with this replacement rate.
Primary responsibility to look after old age parents should be on their children. These children will inherit their parents property and money.
You were going to say death sentence? :)
Life sentence 😢
Stop looking at the old people as money and market. This is the ugly side of development.
We live in a capitalistic world and everyone is looked as a money object. Today, even your children will not be happy with their parents if they do not receive any inheritance upon death of the parents.
@@saviofrancisfernandes413 yes, that is why I say it is ugly side. We need to balance it.
Wow do you have a daughter palki
Ivory Coast is not a great comparison to India, sorry.
Why not People are People all over the world made of flesh and blood part of humanity. Indians always look at Africa negatively just to enlighten you 50k Africans are in India as students but 100k Indians in Africa doing business. Am Indian born and educated and live in the West. Lived in Africa too.
@@agnescraig2912 Not talking anything about Africa or Africans. You cannot compare a tiny nation with a small population to India's population, cities, diversity or economy. and aging population. Villages are not suffering the ills of urbanization when it comes to old people.
Give people money and see their true colours. Even parents want independence and privacy if money is not an issue. Joint family is a necessity for poor so there is no point in virtue signalling sham
सभी सनातनी हिन्दू है 😂❤
It may sound like a dea--- LIFE sentence...caught you Palki.....and perhaps that is your opinion about your own parents!
Mungherilal ke sapne
No wonder bollywood is doing well over there ,delusions and fantasies are at home in that land forgotten by the time....🤣🤣🤣😂😂😂😂
Ispar focus karona why you obsessed with Pakistan 🙂
Stop crying.
Who is obsessed with begger
Come out of dilution
@@RizawanAnsaari😂😂😂😂 lmao tea is fantastic remember 27feb
@@shahidanusrat6086 ok
Good
Tea was fantastic
But what now begger
Look at your country
Begging everywhere
Inflation rate is 30%
What will happen to your savings
Yes tea is fantastic 😊 par tumne to bahut time se dekhi ni hogi chai 🤔 mtlb aata bhi ni milta unhe chai ke to sapne hi aate honge na...aur rahi baat Pakistan obsession ki 🤣🤣 to tumse jyada ijjat to ham apne gali ke kutto ko dete hai
I am going to live an expensive, painful, lonely, and sad old age.
I need medical insurance.
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