Opinion | Hong Kong seniors are an economic force, not a budget write-off

Financial Secretary Paul Chan Mo-po’s decision to rein in the HK$2 (26 US cents) public transport concessionary fare scheme has given rise to the public perception that the Hong Kong government regards ageing as a fiscal burden.

This sentiment is hardly new. Whenever elderly care is discussed, it seems to be framed as a zero-sum debate where policymakers are stuck between the dilemma of tax increases or welfare cuts. This overlooks the dual economic role of senior citizens as consumers and contributors.

Investing in their well-being and engagement could transform this demographic into a driving force for Hong Kong’s economy, creating mutual benefits rather than austerity trade-offs.

Hong Kong’s “ageing in place” policy – a cost-efficient policy that emphasises home-based care over institutional support – has been in place since 2009. We calculate that delaying nursing home entry by one year saves about HK$235,930 per person in public funds.

Yet in reality, Hong Kong’s policy remains focused on reactive elderly support rather than proactive investments in seniors’ health and autonomy. Sixteen years after the idea of ageing in place was raised, our government still allocates, by our calculations, over twice as much funding to institutional care than community services.

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‘Is this love?’ asks Hong Kong husband caring for wife with Alzheimer’s disease

‘Is this love?’ asks Hong Kong husband caring for wife with Alzheimer’s disease

An effective ageing-in-place policy requires a stronger focus on preventive care – and where better to start than in the home? Investing in home safety cannot be overstated: 74.5 per cent of seniors’ injuries in Hong Kong stem from falls and 41.5 per cent of their injuries happen at home.

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