International Council on Active Aging
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The business cases for wellness in senior living
The market environment
That the aging population is huge and growing is well-known. Today’s US population ages 65 and over is 37.9 million—a number expected to double in size to 72 million people by the year 2030. The age group 85 and older is now the fastest-growing segment in the population.1 That’s the age group often found in retirement communities, particularly those with continuing care.
The next generation of residents, the Baby Boomers born between 1946 and 1964, was an estimated 78.2 million strong in 2005. Every hour in the year 2006, about 330 people turned 60.2 In Canada, first-wave Baby Boomers are the fastest-growing age group (2001–2006), including 3.7 million individuals.3
Not only is there a very large number of aging people, they are living longer. By 2020, life expectancy in the US is projected to reach 81.9 years for women and 77.1 years for men.4 The life expectancy of Canadians stands at 82.5 years for women and 77.7 years for men.3
Even if a small percentage of older adults choose to live in age-qualified retirement communities, it is a very large market. Older adults do relocate: 39% of people ages 60 and older change their residences, usually moving within the same state. And, in 2000, people ages 65+ accounted for 10% of new-home buyers.5
Where are aging adults going to choose to live?
What is the opportunity cost for not investing in wellness culture, facilities and programs?
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