Singapore Ranked Third in APAC for Silver Industry Potential
Singapore ranked third out of 15 Asia-Pacific countries in terms of silver industry potential, reported Channel News Asia. This was based on the Silver Economy Index, consisting 15 Asia-Pacific countries, by ageing market consultancy, Ageing Asia. Hong Kong took first place in the index, followed by Australia in second place. Japan and South Korea took fourth and fifth places respectively.
The Report on the Ageing Population, by the Committee on Ageing Issues, stated that one in five Singapore residents would be aged 65 years and above in 2030. The total number of seniors in Singapore will reach to 900,000, of which:
• 87 percent will be healthy and independent,
• 8 percent will require a walking aid,
• 3 percent will require some assistance to move around and need some assistive device,
• 1 percent will require total physical assistance for movement,
• 1 percent will be bedridden.
Ministry of Health announced that the government will invest S$500 million to build 10 new nursing homes, 29 senior care centers and 56 senior activity centers by 2016. In addition, the Senior’s Mobility and Enabling Fund was expanded from S$10 million to S$50 million to provide subsidies for assistive devices and healthcare consumables.