Riding the Silver tsunami – how to profit from the ageing nation

Australia’s population is ageing at an unprecedented rate.

Australia’s population is ageing at an unprecedented rate with the era of the ‘silver economy ‘ now upon us. And it is the businesses that recognise and adapt to this demographic shift which stand to benefit significantly.

Rather than focusing on challenges such as increased healthcare costs and workforce shortages, businesses must look to the abundant opportunities that will spring from the ageing population – particularly in business and real estate.

In 2024, about 4.7 million Australians were aged 65 and above, comprising nearly 18 per cent of the total population. By 2044, this proportion is expected to reach 22 per cent, driven by increasing life expectancy and lower birthrates.

The growing number of older Australians means that businesses catering to their healthcare, finance and technology needs will see sustained demand and profitability.

However, it’s important to recognise that today’s younger retirees are not only living longer but are also healthier and more active than previous generations.

Many are still participating in the workforce and leading independent lives. This means that while general healthcare and wellness services will see increased demand, specialised aged-care services will be particularly crucial in areas with a higher concentration of residents aged 85 and over.

This means a focus on aged-care facilities, in-home care services, and wellness programs designed to enhance mobility, cognitive health, and overall quality of life.

The spread of the 85-plus population won’t be even. Over the decade leading to 2023, Brisbane recorded the highest net increase, with 3,800 more residents in this age group. The Gold Coast followed closely with an additional 3,600, while the Sunshine Coast and Moreton Bay each saw an increase of 3,000. Canberra also experienced notable growth, adding 2,200 residents aged 85 and over.

Businesses providing home care services, mobility aids, and wellness programs in these areas will be in high demand.

The big shift is also influencing the pharmaceutical industry, with increased demand for medication management, geriatric healthcare products, and research into age-related diseases such as dementia and osteoporosis.

The rise of tech-savvy older Australians opens doors for businesses in assistive technology, wearable health devices, and smart home solutions designed to enhance safety and convenience. From voice-activated home assistants that help with daily tasks to advanced health-monitoring systems, putting technology at the heart of ageing lifestyles is creating opportunities.

In 2024, about 4.7 million Australians were aged 65 and above, comprising nearly 18 per cent of the total population. By 2044, this proportion is expected to reach 22 per cent.

Companies developing fall-detection systems, remote health monitoring, and AI-powered personal assistants will find a receptive market among older Australians looking to maintain independence while ensuring their safety.

Financial services will also take off in coastal towns like Queenscliff and Victor Harbour that are near major capitals as retirees seek advice. This is also true for South-East Queensland which is becoming the retiree-lifestyle capital of Australia. Flinders in Tasmania,

The Yorke Peninsula in South Australia and Glamorgan-Spring Bay in Tasmania will also be attractive for businesses focused on aged-care services, healthcare, and lifestyle solutions tailored to older Australians.

The ‘active ageing’ trend means more retirees are seeking travel, recreational activities, and social engagement. Tour companies, retirement lifestyle resorts, and wellness retreats will thrive as retirees look for opportunities to stay engaged.

Businesses in the hospitality and travel sectors can develop age-friendly travel packages, guided tours with accessible facilities, and wellness retreats that promote mental and physical wellbeing will also do well.

Beyond travel, entertainment and education are also expanding sectors within the silver economy. More retirees are enrolling in courses, workshops, and social programs that help them stay active and engaged.

The real estate sector is shifting as demand for senior-friendly housing grows. Some older Australians may consider downsizing to townhouses, apartments, or lifestyle villages for easier maintenance, security, and proximity to healthcare and community facilities. Co-housing is also gaining traction, offering affordability and social connection.

However, many older Australians prefer to age in place, meaning businesses that offer home modification services — such as installing ramps, stair lifts, and smart home technologies — will see strong demand. These trends highlight the importance of urban planning that prioritises accessibility, ensuring that public spaces, transportation, and amenities cater to the needs of an ageing population.

Additionally, community developments that include integrated health and wellness facilities, social hubs, and green spaces will be highly attractive to older buyers looking for a high quality of life in their later years.

By understanding where the ageing population is growing the fastest and what they need, companies and investors can unlock significant potential in the silver economy. Embracing this demographic shift with innovation and foresight will not only be profitable but also contribute to a more inclusive and dynamic economy.

As Australia continues to evolve demographically, those who recognise and act on these trends will not only gain economic rewards but also play a vital role in shaping a society that values and supports its ageing population.

Hari Hara Priya Kannan is data scientist at The Demographics Group