The elderly in Mexico are a real treasure for some sectors of the economy, such as retirement centers, financial planning, luxury and tourism, as well as pharmaceutical.
Older adults are valuable to the economy, since this segment increases considerably year after year, they have a greater purchasing power and also, their needs are focused on a specific niche of products and services, making them an attractive market.
According to a study by the Swiss financial institution UBS, the disbursement defined as 'silver spending' will continue to grow in the country, in some categories such as retirement homes, financial planning, beauty products anti aging, health and leisure and tourism (cruise travel).
For the president of the Mexican Association of Assistance in Retirement (AMAR), Javier Govi, the business potential focused on the needs of older people is extremely attractive, derived from the little explored field.
"Based on the studies and population projections that we have made, there is a great opportunity for growth in businesses focused on the mature population, especially those that have to do with retirement homes, as there are few specialized firms with this subject in the country"- Javier Govi, President of AMAR
In Mexico there are a handful of companies dedicated to this line of business, among which Belmont Village stands out in alliance with the Mexican company Quiero Casa, Spain's Ballesol, along with Grupo Presidente and Le Gran Senior Living.
According to projections by the National Population Council (Conapo), adults over 60 will go from representing 11 percent of the total national population in 2018, to 21 percent by 2050.
However, in Mexico not everyone can have this type of lifestyle.
The AMAR executive estimates that only about 9 percent of the population over 60 years old can have the necessary resources to pay for one of these retirement centers, which can reach monthly payments of up to 80 thousand pesos.
"There is potential although we start from a small base of Mexicans, since the country is a magnet for foreigners who want to retire in this place, taking into account that the exchange rate favors the dollar, which would add a larger population" .
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