4 investment opportunities stemming from Singapore's ageing population 

Singapore was dubbed as the country with the biggest silver economy potential.

Singapore’s ageing population creates investment opportunities in the fields of healthcare, senior care, cosmetics, travel, leisure, and long-term financial planning, according to RHB.

The silver generation likewise propels the creation of brand-new goods and services that seek to enhance the standard of living for both older people and younger people making plans for their later years.  

Singapore, according to the Ageing Asia Alliance, is the country with the biggest silver economy potential in terms of the capacity of the ageing population to spend or be supported by their children. 

“Businesses who could court these ‘silver spenders’ with innovative solutions to match their lifestyle aspirations and healthcare goals will see strong growth potential,” said RHB.

Amongst investment opportunities that have stemmed from Singapore's ageing population include telemedicine and health technology.

“The use of mobile apps, wearable technology, and smart gadgets powered by the IoT is sought to create better healthcare options for the elderly. Therefore, there is room for businesses to create smart healthcare solutions that can help them live longer and better lives. These solutions could address issues such as disease management and monitoring, fall detection and medication compliance,” RHB  said.

Singapore also has an HDB Smart Enabled Home initiative which can be a window opportunity for businesses. 

The initiative seeks to enhance daily life in HDB residences through 'Smart Living" as part of Singapore's Smart Nation Vision. 

Privately managed assisted living is also an area which businesses can tap.

“More senior citizens want to age independently and respectably. There is a demand for innovative assisted living ideas that offer facilities connected with the community and enhanced nursing home models that move away from an institutionalised style of eldercare,” RHB said.

In Singapore,  there are private assisted living service providers like St Bernadette Lifestyle Village at Bukit Timah. The group also has two similar amenities at Adam Road and Sembawang, both also housing eight seniors each. 

Renters pay about $4,600-$5,800 monthly, depending on location and room type and are looked after by trained caregivers rostered around the clock.

Red Crowns Senior Living (Red Crowns) is another local care provider that started offering assisted living services in April 2021. Its operating model involves renting HDB flats and condominiums for use as assisted living facilities, and the company is currently serving 130 elderly clients in 33 homes across Singapore. Red Crowns charges $2,900-$6,300 per month for assisted living, depending on location and caregiving service. 

The ageing population has also taken elderly nutrition to centre stage. 

Seniors' demands can be better met by food products that have been altered in terms of flavour, texture, nutrition, and simplicity of preparation.” RHB said.

"A Singaporean start-up called SilverConnect specialises in producing moulded pureed food for persons who have trouble swallowing. In addition to staples like ready-to-eat pureed fish, veggies, and chicken, its trademarked GentleFoods menu offers regional treats such as pureed pineapple tarts and ang ku kueh,” RHB said.