Silver Tourism Surge: Travel Industry Adapts to China's Aging Population

As China's population ages, travel companies are tailoring their services to cater to the growing number of elderly tourists. This includes offering healthcare services, discounts, and specially designed itineraries. The market for 'silver tourism' is set to boom, driven by affluent retirees with the time and resources to travel.

Travel companies are betting that Chinese tourism could return to its pre-pandemic boom days if they tweak tours to avoid steep hikes, add nurses and healthcare professionals to their staff, and offer discounts for the seniors they're targeting.

As China's population rapidly ages, and many in the middle-class face job uncertainty and a slowing economy, so-called silver tourism is on the rise, with more retirees, especially in affluent coastal cities, venturing out at home and abroad. Many of these elders have accumulated significant savings during four decades of eye-watering economic growth and retire as soon as 50 for women and 60 for men. Without grandchildren, they have more free time for travel.

Now companies inside and outside of China, and local travel authorities, are starting to tailor their services to the needs specific to this growing cohort. 'We are starting to see an increasing segment of elder Chinese consumers who are not only affluent but, more importantly, willing to spend on quality lifestyle pursuits and personal development,' said Wee-Hoon Tan, senior vice-president of product development and marketing at Viking Cruises China.

(With inputs from agencies.)