Opinion | As Hong Kong ages, carers of elderly relatives need more support at work, at home and for their own old age
- A more flexible working environment, funded respite care and innovative insurance policies can support Hong Kong’s more than 40,000 carers of ageing relatives
Global life expectancy has risen by more than five years since the start of the century, and this is a wonderful thing. It means more years to enjoy with family and friends.
Demographic change also poses challenges, however. The number of people in the world aged 60 and above is predicted to reach 2.1 billion by the middle of this century. While some may enjoy good health well into their later years, others will increasingly need support.
Societies all around the world are grappling with the implications. When it comes to providing care, what are the roles of the state, individual and family? Can public services be redesigned to help us live independent and fulfilling lives for longer?
Hong Kong is at the sharp end of these challenges. Around one in six residents is already aged 65 or over, according to local authorities. More than 40,000 Hongkongers of working age care for older relatives.
While caring can be profoundly rewarding, carers may also find it difficult to combine their family responsibilities with paid work. This makes it harder for them to support themselves and plan for their own retirement. Businesses may also lose out on skills and experience if carers drop out of the workforce.
As Hong Kong ages further, these challenges will become acute. By 2040, the number of older people needing support is expected to more than double, with the direct cost of this “eldercare” rising from HK$38.8 billion (US$5 billion) in 2018 to HK$126 billion in 2040, and HK$222.4 billion by 2060. The indirect costs to employers and informal carers – in terms of lost productivity, skills and opportunities – will also rise steeply.
