Al Amin :
The “silver economy”, markets for senior citizens, is alluring huge opportunities to the country’s economy as this consumer class is growing faster across the world.
Though the concept of silver economy is new in Bangladesh, the economists and businesses see huge prospects of it amid the growing number of the 60 plus population.
The number of the senior citizens will be around 40 per cent of the world population by 2030. Keeping in mind, many countries are remodeling their economy considering the potentiality of the market, experts said, calling for making senior care both economically viable and an opportunity for economic development.
The policy makers of Bangladesh should find way to explore the idea with a view to becoming beneficiary from it, they said.
The people, age up to 60, will be the main consumers in coming years and the consuming products of them are structured for the elderly, personal services, home help, housing, communication, transport, safety, leisure, hygiene, travel, Mutual insurances, provident institutions and insurers, among other things.
These products will be the main consuming products in the coming days as the number of aged people is increasing rapidly across the world, said Prof Dr Samnum F Taha, Chairman of the Senior Citizen Health Care.
“Bangladesh can be a potential hub of caregivers, if we provide sufficient trainings to our manpower as the demand of the service providers is increasing faster in many developed and western countries,” Taha told The New Nation.
He also stressed the need for recognising senior care as a sector with appropriate regulations and standards, policy support, tax structures, availability of subsidised financing and appropriate governance mechanisms.
Ahsan H Mansur, Executive Director of Policy Research Institute (PRI), said that the concept of the silver economy has become relevant issues for almost all countries as the number of the aged people is growing rapidly.
Even, the Indian government is exploring ways to promote the idea of silver economy by developing residential and infrastructure facilities of different grades for seniors through public-private partnership (PPP) for a dignified and safe aging experience, he said.
“Bangladesh has a huge opportunity to supply caregivers to the western countries. The policymakers should adopt policies immediately to take the chance,” he added.
For example, Japan will take one million caregivers by next two years and we should take policies to build our manpower so that they become capable for the job, he said.
Rizwan Rahman, President of the DCCI, said that like many other countries, the number of senior citizens is increasing in Bangladesh as well.
“As we are family based society till now we don’t think it from economic aspect. But obviously with increasing of fusion families silver economy of Bangladesh will be raining,” he said.
“Social protection coverage has to be strengthened. Caregiver and caretaker, mid-wife etc services will have to be promoted to carter the needs of the silver economy,” he added.
