Heed spending power of newly retired, experts tell industry

KUNMING — Under the weight of a backpack half her size and a giant camera slung over her shoulder, He Ping, 61, trekked through a stretch of wetland en route to the best spot to photograph birds.

Driven by her love for photographing birds, He, a retiree from Beijing, travels across Southwest China's Yunnan province in search of the best vantage points, as she and her husband now live in the province for a couple of months every year.

Retired and energetic, the amateur bird photographer is among a cohort of the population dubbed "elderly migratory birds", which refers to seasonally migrating elderly people in pursuit of pleasant weather or comfortable dwellings.

As a new generation of healthy, vigorous and richer Chinese adults enter retirement age, a growing number of old-age "migratory birds" have injected momentum into the silver economy.

Official data show that China was home to 297 million people aged 60 and above by the end of 2023, accounting for 21.1 percent of the country's total population. Against the backdrop of a rapidly aging society, China released a guideline earlier this year to strengthen the silver economy.

The current scale of China's silver economy is estimated at about 7 trillion yuan ($982 billion) and it is expected to reach about 30 trillion yuan by 2035.

A news conference was held on July 19 about the guiding principles from the just-concluded third plenary session of the 20th Communist Party of China Central Committee. At it Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, said China will enhance the development of the elder care industry.

As many Chinese born in the 1960s have reached the end of their careers, a new generation of retirees has emerged, many of whom are healthy and vigorous, said Wang Jianxin, director of the Yunnan old-age health industry development association.

Compared to previous generations, they have received better education and work opportunities as a generation that witnessed China's reform and opening-up. They generally possess stronger purchasing power, greater desire to travel and more diverse leisure needs, Wang added.

He Ping and her husband, drawn by Yunnan's mild weather and pace of life, have purchased a courtyard house in the border city of Tengchong and sojourn here for several months each year. "Prices here are low and we can take as many hot spring baths as we like without worrying about the cost," said He.

Most seasonal migration is driven by the pursuit of pleasant weather. In a country so vast, the climate varies drastically from place to place, prompting many health-conscious retirees to move regularly to cooler places in the summer and warmer places in the winter.

Wang Qingchun, 64, escaped the scorching heat in her hometown Changsha — dubbed the "furnace city" — and took shelter in Qujing city, Yunnan, where temperatures in the summer have averaged around 20 C.

"The weather here is definitely a lot cooler and we are planning to stay here for two months this time," said Wang. She and her husband have checked into an old people's apartment compound since early July, which costs 3,580 yuan per person a month.

The compound offers free meals, shuttle services and facilities including a movie room, karaoke room, gym and massage chairs. "It offers everything but an air conditioner," Wang joked, happy with the amenities and the respite from the heat wave back home.

Following renovations, the apartment building started receiving guests from beyond Yunnan in 2023. The majority of residents are from hotter regions such as Hunan and Sichuan provinces and Chongqing municipality, said apartment employee Yang Xiaohong, adding that they are fully booked.

Elderly guests like Wang have helped boost tourist numbers in Qujing. According to data from the Qujing bureau of culture and tourism, Qujing received 2 million tourists in the summer of 2023, grossing a tourism revenue of approximately 23.6 billion yuan, a year-on-year increase of more than 22 percent.

The influx of these "migratory birds" has also invigorated small businesses. In 2023, Zhang Xiaowai transformed her two six-story houses in the suburb of Qujing into a 40-suite vacation residence that suits old people's living needs.

All of Zhang's suites were booked as of April. With the help of her daughter, Zhang started using China's social media platform Xiaohongshu, or Little Red Book, to post pictures to attract customers.

"Nowadays, many young folks are sorting vacation apartments for their parents on social media platforms," Zhang said. "Since the elderly guests arrived, restaurants, hair salons and clothing stores in my neighborhood have enjoyed good business."

The picturesque Changbai Mountains scenic area in Northeast China's Jilin province is another magnet for heat-averse retirees. The seasonal migration of seniors has boosted the local hospitality industry.

In Erdaobaihe Town in the vicinity of the Changbai Mountains, homestay businesses have mushroomed in the last two years.

Although a growing number of elderly people choose to travel and live in different places, the "migratory bird" lifestyle is still considered as high-end consumption and it raises requirements for public services such as healthcare, said Lin Mingwei, deputy director of the civil affairs bureau of the Honghe Hani and Yi autonomous prefecture in Yunnan.

As cross-regional medical insurance reimbursement is made available in more places across China, medical concerns that can hold back the elderly from traveling or living elsewhere have eased to some extent, Lin noted.

Xinhua