Hong Kong's ageing population continues to be a problem. The Census and Statistics Department of the Hong Kong SAR Government predicts that by 2043, more than one out of every three Hong Kong people will be an elderly person, which will bring endless business opportunities for silver hair. In last year's Policy Address, the HKSAR Government announced the establishment of the Working Group on Silver Hair Economy. The Deputy Chief Secretary for Administration, Mr. Cheuk Wing-hing, who is the head of the Working Group, announced yesterday with officials of relevant bureaux that a total of 30 measures would be launched in five areas, namely, promoting "silver consumption", developing "silver industries", "silver quality assurance", "silver financial and protection arrangements" and unleashing the "silver productivity", including the launching of the "Eat Well" campaign, which is expected to benefit over 1,000 elderly people. These include the launch of the "GDD" campaign, which is expected to be responded by more than 100 restaurants offering concessions to the elderly, increasing job opportunities for the elderly and developing cross-boundary old age insurance products. Citing statistics from the Government Economist's Office, Mr. Cheuk Wing-hing said that the spending of people aged 60 or above in Hong Kong amounted to $342 billion last year, which accounted for about 11% of the Gross Domestic Product (GDP), and it is estimated that it will increase to $496 billion in 10 years' time, and it is believed that after the introduction of a series of measures, there will be a considerable increase of 5% in the spending each year, which will bring an economic benefit of about $17 billion.
Hong Kong is rapidly moving towards an ageing society. According to the Census and Statistics Department's forecast, by 2043, one out of every three Hong Kong people will be an elderly person aged 65 or above. In the face of profound demographic changes, the silver hair economy is no longer just an extension of social welfare, but a new driving force for Hong Kong's future economic development.
In May this year, the HKSAR Government officially announced the establishment of the Working Group on Silver Hair Economy led by the Deputy Chief Secretary for Administration, and launched a total of 30 measures covering five major areas to promote the development of the silver hair economy. These include promoting silver consumption, developing the silver industry, promoting silver quality assurance, promoting silver financial and protection arrangements, and unleashing silver productivity.
On "Silver Consumption", the Government encourages retail, catering and e-commerce platforms to develop products and services suitable for the elderly, and organize "Silver Hair Summits" to raise community awareness. This will not only activate the consumption potential of the elderly, but also help build a more inclusive market environment.
The "Silver Industry" focuses on the research and development and application of ageing technology. Organizations such as HKSTPC and Cyberport will help enterprises to meet the demand for elderly services and promote the implementation of innovative products. This is not only a combination of technology and social well-being, but also an extension of Hong Kong's innovation and technology policy.
On financial protection, the Government promotes cross-boundary old age insurance, annuity products and financial education for the elderly, with a view to assisting them in making good use of their wealth and protecting their livelihood in their twilight years. At the employment level, the Government encourages the elderly to return to the workplace through retraining, job fairs and employment-friendly measures, so as to unleash the "silver productivity" of the elderly.
This series of policies demonstrates that the government attaches great importance to the silver-hair economy and has a forward-looking vision. However, the implementation of these policies still requires cross-border collaboration and social participation. Enterprises need to truly understand the needs of the elderly and avoid "labeling" designs, while society needs to break the stereotype of the elderly and build a culture of respect and inclusion.
The silver economy is not just an economy for the elderly, it is also the future of our society. In the midst of this demographic transformation, Hong Kong has the opportunity to become a model for the silver-hair economy in Asia. Only through a people-oriented approach and innovation can the silver-haired people live with dignity, choice and hope in their old age.
Below are three specific recommendations for DECCs to promote the silver hair economy, focusing on combining community resources, enhancing elderly participation and creating economic value:
1. Silver Hair Skills Workshop
Crafts, cooking and gardening classes are offered to encourage seniors to create and participate in community bazaars, creating income and a sense of accomplishment.
2. Silver Hair Tour Volunteers
Train seniors to serve as community docents, integrating local culture and tourism to promote social participation and cross-generational exchange.
3. Smart Health Demonstration Points
The introduction of smart devices and the provision of digital courses enhance the quality of life of the elderly and promote the integration of technology and the silver hair industry.
Hong Kong's population is aging at an alarming rate, and many elderly people are choosing to "stay in retirement" and continue to give full play to their strengths in the workplace. According to the 2021 Population Census, the labor force participation rate of the elderly aged 65 or above has risen to 14.6%, almost double the 6.0% in 2011. This figure reflects that the elderly are not working just to make ends meet, but more out of a desire to stay in touch with society and give full play to their remaining passion.
To cope with this trend, the Hong Kong Government has actively launched a number of policies to support the employment of the middle-aged and the elderly. These include the "Employment Programme for the Middle-aged and Senior Citizens", which provides on-the-job training allowance to employers for employing unemployed persons aged 40 or above, and an allowance of up to $5,000 per month for up to 12 months for those aged 65 or above. The Scheme also emphasizes the provision of suitable training by employers to enable elderly job-seekers to adapt to the new working environment and regain confidence.
In addition, the newly launched Re-employment Allowance Pilot Scheme will be open for application from July 15, 2024 onwards. Elderly persons who have completed 6 to 12 months of continuous full-time employment will be eligible for a maximum subsidy of $20,000 (pro-rata for part-time employment). The Scheme also provides job matching and post-employment support to help the elderly re-integrate into the community and adapt to the pace of the workplace.
In view of the worsening unemployment problem among the middle-aged and the elderly, the Employment Service of Aberdeen Kai-fong Social Service has launched the "Drilling for Senior Citizens" project from April 2021 to March 2024 to provide employment support services to those aged 50 or above who are in financial hardship, so as to help them rejoin the workforce.
According to government statistics, nearly 90% (90.7%) of the elderly aged 65 and above already own smart phones and over 60% of them use computers. In fact, they are willing to invest, but they lack support. Many of them live in public housing or old districts, and are still unable to use the various applications of the smart city (e.g. medical appointments, bank transfers, public transportation, etc.). This is why the Yau Chi Sense series of community resources was created.
The program offers three modes of learning: face-to-face, radio and online, which can flexibly cope with the pace of life of the elderly or adults. The scope of the program covers the following areas: interpersonal communication, finance and insurance, entrepreneurship, health care, language expression, technology application, life wisdom, arts and culture, etc. Learning is no longer restricted by age, background and academic qualifications, as long as you have the heart, you can enroll at any time for "live-style" learning.
Enrollment is also very convenient: enrollment is done through the online system or in person at one of the co-organizers, credit cards can be used, online payment is flexible, and grants can be applied for to reduce study pressure. Beginners are awarded certificates to show their confidence, while advanced courses offer a choice of diploma levels for gradual self-improvement.
Donated by The Hong Kong Jockey Club Charities Trust and organized by HKCSS, **Jockey Club a Home Elderly Technology Education and Rental Service** is a one-stop e-technology pilot project aiming at enhancing the understanding and application of e-technology among elders, so as to increase their ability and confidence in ageing at home.
If you would like to know more about the above community information, please feel free to contact the above organizations. If you want to know the latest social welfare information in Hong Kong, please remember to follow us closely or if you have any questions or need any assistance, please feel free to leave a message to us, we will try our best to answer your questions and provide you with appropriate assistance.
Source:
Introduction to Re-employment Resources for the Elderly
Aberdeen Kai-fong Association Temporary Job Search Financial Assistance Scheme
Elderly Technology Learning Community Resources
Jockey Club "a Home" Elderly Education and Rental Service
Image Source:
Gpt
