China's Tourism Industry Adapts to Aging Population Boom
Chinese travel companies are tailoring services for the growing "silver tourism" market. With 300 million people set to retire in the next decade, the industry is adapting to meet the needs of affluent, active seniors.
The Chinese tourism industry is undergoing a significant transformation as it adapts to the country's rapidly aging population. With a projected 300 million people aged 50 to 60 set to retire over the next decade, travel companies are recognizing the potential of the "silver tourism" market.
Wee-Hoon Tan, senior vice-president at Viking Cruises China, notes a shift in consumer behavior among older Chinese travelers. "We are observing an increasing segment of elder Chinese consumers who are not only affluent but also willing to invest in quality lifestyle pursuits," Tan explains. This change reflects a broader trend in China's aging population, which is expected to reach 400 million individuals aged 65 and above by 2050.
Travel companies are modifying their offerings to cater to this growing demographic. Viking Cruises, for instance, has partnered with Shanghai's University for the Elderly to combine educational experiences with travel itineraries. The company has also made adjustments to its ships, including barrier-free elevators and larger fonts on remote controls, to accommodate older passengers.
Similarly, the Shanghai Railway Bureau has introduced long-distance tourist trains specifically designed for travelers aged 50-70. These trains, which traverse scenic routes, are equipped with healthcare services and staffed by nurses, providing peace of mind for elderly travelers like 56-year-old Tao Wen.
The hospitality industry is also adapting to this trend. Wendy Huang, senior vice president at Hilton in Greater China, reports that the elder boom is "clearly visible" in their operations. The hotel chain offers senior discounts and organizes activities such as tea tasting and wellness classes to appeal to older guests.
China's domestic silver tourism market is projected to reach 1 trillion yuan annually by 2025, with the number of active elderly travelers expected to surpass 100 million. This growth aligns with China's national strategy to address population aging, introduced in 2021.
However, challenges remain. A fragile social safety net, modest pensions, and limited healthcare options outside major cities may impact retirees' ability to travel. Additionally, the slowing economy could exacerbate these issues.
Despite these concerns, Jane Sun, head of Trip.com, China's largest online travel agency, suggests that silver travelers can take advantage of off-peak travel periods for discounts. She advises global partners to make small adjustments, such as providing Chinese breakfast options and in-room tea facilities, to enhance the experience for older Chinese tourists.
As China's tourism industry continues to evolve, it reflects broader demographic shifts and changing consumer preferences. The rise of silver tourism not only presents new opportunities for businesses but also highlights the need for society to adapt to an aging population.
"This process of ageing and shifting consumption patterns is taking place nonetheless."
