Seniors driving consumption growth as Japan ages
They spend more on medical care, social activities, travel and home renovation
Tokyo
AS much of working-age Japan frets about having enough money in old age, the nation's seniors are increasingly propping up consumer spending, accounting for the little growth in consumption the country has seen in recent years. It is something of a paradox. In rapidly ageing Japan, the world's oldest country, the growing number of seniors is seen posing big challenges for the future, particularly for public finances as the pension system comes under growing strain.
For now, though, the elderly are doing more than their share to keep the world's third-largest economy going.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue