In one of our meetings in a Kapitolyo coffee shop, my friend and colleague Mario Zavalla mentioned about his past experience in promoting and selling real estate to Japanese retirees. I learned that he was a member of the original core group who organized the Philippine Retirement Authority (PRA), the government agency tasked with promoting the Philippines as a preferred retirement destination for world retirees. I also found out that he used to head, for a number of years, the Marketing Group of the PRA which was then attached under the Office of the President of the Philippines. Being a retiree himself (though he wouldn’t tell me how long he had retired) and still active as a licensed real estate broker like myself, I requested him to write about the subject which I could publish on this blog. After some hesitation, he later acquiesced to my request after explaining to him that a thriving retirement industry would not only benefit a wide segment of the Philippine economy, particularly the real estate industry, but also his pet project . . . . The PHILISTINGS BANK.
THE GROWING WORLD RETIREE MARKET :
Marketing Challenges and Opportunities
By Mario G. Zavalla
This article is the first installment in a series of articles on the world retiree market. It provides valuable information, insights and related details into a global phenomenon called “global ageing”, a situation described as unprecedented and unparalleled in human history. This report is a compilation of the findings contained in a report prepared by the Population Division, Department of Economic and Social Affairs of the United Nations as a contribution to the 2002 World Assembly on Ageing, 2013 Demographics Profile of Japan and the Philippines sourced from the CIA World Factbook, Wikipedia and several websites featuring retirement communities, retirement destinations and facilities located around the globe.
We hope that this treatise can provide the basic marketing inputs necessary to guide and prod Philippine entrepreneurs, especially real estate developers, marketers and other retirement service providers to conduct follow-up research into a potentially humungous industry with its far-reaching benefits to our national economy.
World Population at a Glance
Presented below are the latest statistics on world population by countries and by continents :