In Aging Thailand, Developers Race to Supply Locals and Elderly Expats
At 79, Thai businessman Boon Vasin's latest $500 million venture is a bet on a market he knows well - looking after Thailand's rapidly growing population of old people. Not only is Thailand aging faster than its neighbors, but it is also becoming an increasingly popular retirement option for foreigners attracted by its agreeable climate, low living and health costs and culture of service. "We will look after them from their waking hours until they go to sleep," said Boon, chairman of the Thonburi Healthcare Group Pcl. "This group has big spending capacity." His Jin Wellbeing County is a 'medical city' for Thai and foreign retirees being built across more than two hectares (5 acres) on the outskirts of Bangkok. The first of nearly 500 housing units being sold in an initial phase are being marketed for nearly $130,000, plus additional fees of 7,000-8,000 baht ($224 - $385) a month for meals and services ranging from fitness sessions to excursions. Boon predicts care services will yield recurring profits of up to 240 million baht each year from the project, plus unit sales and medical services. Together with China, Thailand is aging much faster than its regional neighbors. By 2040 it is expected to have the highest share of elderly people of any developing country in East Asia, according to the World Bank. Thailand has 7.5 million people aged 65 and over, a figure projected to swell to 17 million by 2040 - more than a quarter of the expected population. That's partly due to improving medical care extending life expectancies, but also a fall in birth rates from an average of more than six children per woman in 1960 to 1.5 in 2015. In the past, generations of the same Thai family lived under the same roof and elderly were... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, In Aging Thailand, Developers Race to Supply Locals and Elderly Expats, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you
Published By: VOA NEWS - Wednesday, 11 April, 2018
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