The Business Times
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PERSPECTIVE

Singapore is bracing itself for a super-ageing society

The special bonuses for nurses in the city-state are a nod to big population challenges confronting Asia

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    • A fertility rate of 2.1 is the level at which a population naturally replenishes itself. Singapore’s rate fell to 0.97 last year, according to a preliminary estimate. The population is greying rapidly.
    • A fertility rate of 2.1 is the level at which a population naturally replenishes itself. Singapore’s rate fell to 0.97 last year, according to a preliminary estimate. The population is greying rapidly. PHOTO: AFP

    Daniel Moss

    Published Fri, Mar 1, 2024 · 11:41 AM

    NEVER mind the legions of imported bankers, engineers, stevedores and nannies. Singapore’s attraction for these pillars of a successful hub is well documented. However, it obscures the country’s shifting labour needs.

    The next front in the battle to recruit and retain talent doesn’t target elite brains or sweaty brawn, but reflects its profile as a rapidly ageing society. The new hot commodity is healthcare.

    Singapore’s punishing demography, and the need to address it, was underscored on Wednesday (Feb 28) when a minister revealed that a key measure of fertility had tumbled to yet another record low.

    ageingHealthcare

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