he world’s population is graying—and fast. Within five years, there will
be more pensioners than children in the United Kingdom, according to
the United Nations Department of Economic and Social Affairs. And
by 2050, Japan is projected to have 72 seniors (age 65 and older) for
every 100 adults between the ages of 15 and 64.
At the same time, family support networks are fraying. In China, for
example, only 41 percent of the country’s seniors live with their children. In the
United Kingdom, 46 percent of residents over the age of 75 live alone. This trend
has increased the burden on healthcare organizations and agencies charged with
providing a social safety net for the elderly. In Scotland, for instance, 625,000
hospital beds were filled with people who were ready to discharge—but had no
one to care for them at home—in 2015.
Both public and private organizations around the world are launching projects to fill this gap. In China, where 15 percent of the population is now over
age 60, developers have flocked to the senior living sector over the last five years,
says Tony Wang, CEO, Watermark Senior Living, Hong Kong.
“The government or other nonprofit organizations own the majority of senior
Hamarikyu Gardens in