The silver economy is providing huge consumption energy in the cultural tourism market.
HEFEI (China): Wu Zenghe has been in the bed-and-breakfast (B&B) business for over a decade, and feels that the enthusiasm for cultural travel among China’s elderly has been steadily rising recently.
His B&B, especially designed for the elderly and located in ancient Huizhou town, a popular tourist destination in Shexian county in Anhui province, has only been operating for a year but has already attracted groups of silver-haired visitors from first-tier cities.
As one of the first batch of B&Bs to combine local history, beautiful scenery and traditional Chinese medicine (TCM) in the county, Wu’s B&B regularly invites doctors to provide health management services, including the likes of medical lectures and TCM physiotherapy, while also providing tourism services tailored to suit the elderly, such as slow-paced travel plans.
“Travel for health is about to see an influx of those born in the 1960s and 1970s, who have the ability and willingness to spend on health management and better tourism experiences,” he said.
The silver economy is providing huge consumption energy in the cultural tourism market.
Statistics from the China Tourism Academy showed that the number of tourist trips made by those aged 60 and above had reached 1.16 billion in 2023 – accounting for 20.6% of China’s total domestic tourists.
It is estimated that by 2028, the value of the silver-haired tourism market will reach about 2.7 trillion yuan or about US$372bil, indicating strong growth momentum.
Earlier this month, nine Chinese government agencies and state-owned enterprises, including the Commerce Ministry and the Culture and Tourism Ministry, unveiled an action plan to expand and improve senior-friendly tourism train services.
This is the latest bid to create more inclusive and enjoyable travel experiences for the elderly.
It plans to create a nationwide network of specialised trains catering to older travelers by 2027 – featuring over 100 designed routes and 2,500 scheduled trips annually.
According to a blue paper on China’s silver economy, the sector is currently valued at seven trillion yuan, with tourism being a key growth area. — Xinhua
