In Hong Kong, land is so expensive that most people live in fairly small apartment units. While Hong Kong has a population of over 7 million, it also has around 400,000 maids that largely live with the families where they serve. In addition, families in Hong Kong still try to embrace the traditional Confucian value of filial piety by letting their grandparents and elderly parents live with them.
But in a two bedroom flat things get tight pretty fast! Grandma and Grandpa need a caregiver, and that caregiver may need to live with them in order to provide 24/7 care. Dad and Mom both work, and they also have a maid to help with daily chores. Drop in even one child and you can see how quickly space becomes a premium.
Into this mix, caregiving services become increasingly important. The government here is earlier in their thinking than Singapore, even through both share similar demographic challenges. We see big opportunities here for Senior Helpers, in particular as various upper end senior living facilities begin to open around the city, and service providers scramble to help the elderly age in place.
Up next for us is Guangzhou, where we will be transitioning to the mainland and starting to see for ourselves the opportunity and challenges of delivering our home care model in China. More soon!