Big spending by older consumers post-virus

Increased screening: Visitors checking out an MRI at a health conference in the US. Global health-care spending is expected to rise 5.8% to US$8.8 trillion this year. ― AFP

LONDON: The world’s emergence from the coronavirus pandemic is set to unleash a wave of spending by older consumers, with increasing opportunities for investors in ageing-linked stocks.

That’s the view of money managers who see huge pent-up demand from wealthy seniors for medical services and luxury goods. They also expect that the forced adoption of the internet by older people during lockdown will open up this demographic permanently to e-commerce companies and social networks.