Businesses Geared towards Senior Citizens are Growing
Gymnasiums and specialized nursing home services and supplies are some of the niche markets that private companies have started to explore in Costa Rica.
Monday, October 10, 2016
The market segment composed of older adults is becoming increasingly important for businesses, as longevity increases and there is a growing demand for services and specialized care.The market potential is reflected in the figures published by the National Institute of Statistics and Census (INEC), which state that x
Residences specializing in care and services, home health services, specialized gyms and even a job market are some of the businesses geared towards senior citizens in Costa Rica.
Elfinancierocr.com reports that "...Residence options, for long term stays and care, are the most dynamic market in this business. "You can find services ranging from freelance services and home care to residential complexes where older residents receive 24-hour care.
"...Moreover, some of the real estate residences designed and built for this segment includes names such as Verdeza, a residential complex located in Escazu; Refugio Poas in Alajuela; Dorados autumns in La Garita de Alajuela; Sun Ranch, a development located in Liberia, and Antara Residential & Country Club, a resort style retirement community in Piedades de Santa Ana."
Because there are customers who demand gluten-free food, vegan food or dishes that adapt to the ketogenic diet, companies in Costa Rica can exploit new market niches.
The number of consumers who demand specialized food is rising in the Costa Rican market, so some restaurants have changed their menus to meet the demands of customers.
A growing segment of the population is starting to gain weight as a group of consumers of increasingly specialized high-cost services.
In Costa Rica the evolution of the population pyramid is starting to resemble that of developed countries, and shows a sustained increase in inhabitants in the higher age range, a process which is expected to take the number of old age people in 2050 to more than one million.
The country lacks adequate infrastructure options and care services for elderly people.
Aging in Costa Rica has become a business. Official figures reveal that at least one illegal care center opens its doors every month, however, these facilities do not have the minimum conditions required for the care of seniors.
The growth of the high-income segment in the country is an opportunity for companies focused on providing high quality products and services.
Elfinancierocr.com reports: "A study by the firm Wealth- X, originally from Singapore, found that the number of individuals locally who registered at least $30 million in assets went from 85 to 100 in the last 12 months."
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