GBA becoming a preferred retirement destination for elderly

Helping Hand’s elderly care home in Zhaoqing

On the Agenda

An increasing number of Hong Kong’s elderly are choosing to retire in mainland China’s retirement homes, attracted by improved transportation options, more affordable and superior living conditions, and evolving government policies, as reported by Bloomberg last week.

Hong Kong is experiencing a severe lack of elderly accommodation, with a waiting list of 16,000 for subsidized residential care services and waiting periods extending up to 16 months.

In the next few months, the Hong Kong government is set to allow seniors to use medical expense vouchers in seven healthcare facilities within the Greater Bay Area, encompassing nine Guangdong cities. Additionally, a policy extension now enables Hong Kong’s elderly to receive subsidized services at a Shenzhen hospital. This policy adjustment aims to support Hong Kong, known for one of the highest life expectancies globally, as it navigates the challenges of an aging population. Projections indicate that by 2046, over a third of the population will be 65 or older.

Public data reveals that for a 180-square-foot room with park views and an ensuite bathroom, residents pay roughly 5,100 yuan ($708) monthly, nearly a quarter of what it would cost in Hong Kong. The facility boasts amenities like a gym, a vegetable garden, and even goats and cats for residents to interact with. Additionally, the staff’s ability to speak Cantonese, a rarity in mainland China due to Mandarin’s dominance, is a noted advantage.

source: hong kong census and statistics department

The resumption of high-speed rail service post-pandemic has halved travel times to just two hours, facilitating easier visits with loved ones.

“Initially, it was either unknown or deemed too distant and daunting,” remarks Sandy Macalister, CEO of Helping Hand, a non-profit organization serving Hong Kong’s seniors. Concerns included the potential loss of a spot on Hong Kong’s subsidized housing waiting list for those considering a trial stay. “Now, the government recognizes the benefits,” Macalister observes.

China Taiping Insurance Group reports that its senior living facility in Guangzhou welcomed its first resident from Hong Kong in January. According to the report, the company has since crafted insurance policies catering to the needs of Hong Kong’s elderly eyeing retirement in the Greater Bay Area.

Helping Hand has seen a doubling in inquiries since 2022, with aspirations for the Zhaoqing facility to host 110 residents by December, up from 95. Tours and overnight trials at Guangdong’s nursing homes have become popular recreational activities for Hong Kong’s seniors, offering day trips at no cost and overnight stays for approximately HK$300 ($38). “A majority of our participants are relatively young, in their early 60s,” states Leung Che Cheung, president of the group. “They are keen to explore their options,” he explained to Bloomberg.