The growth prospects of the Silver Economy (an economic activity based on the needs of the elderly) are constantly increasing. The outstanding multiplier effect inherent in the sector also creates excellent opportunities for related sectors, especially in parts with touristic and rural areas such as the South Transdanubia region.
The aim of our project is to assess the needs of the aging society and the production and service capacity and potential of the economic sectors and actors, to provide a basis and show possible Silver Economy related directions for the South Transdanubian regional development.
We attract citizens from Hungary and abroad with high-quality prevention and rehabilitation services, entrepreneurs and investors with health product and service development opportunities, as well as construction investment possibilities.
In order to achieve the long-term goal, we implemen a two-stage program by making healthcare institutions more efficient and market-oriented. We also establish a community for the elderly, and set up a network with numerous stakeholders and decision-makers.
The consortium was founded by the Institute of Transdisciplinary Discoveries (The enormous potential of the Silver Economy is clearly shown by the forecasts predicting that by 2025 there will be 222 million “silver age” residents in Europe (43% of the total population). It is expected to realize 57 trillion euros spending by this age group, making up 31% of the total European GDP. The (inactive) age group over 65 has 75% more assets compared to the average net asset value. Last but not least, the Silver Economy will support 88 million jobs by 2025.
This economic development concept, based on the needs of the foreign and Hungarian people over 55, offers a great opportunity to many sectors, including:
- Health industry – development of the private and public healthcare system, capacity expansion, health innovation, development of the health insurance system.
- Service sector – physical and mental recreation services, passenger transport, banking services, telecommunication services, services provided for employees of the Silver Economy.
- Tourism – development of health and wellness tourism, ecotourism, gastronomic tourism.
- Construction industry – real estate construction and renovation of both private and business properties, low-energy, smart-home technologies, protection of built heritage.
- Research – development, education – products and services developed directly for the target market, as well as products, services and trainings developed for employees working in the Silver Economy.