Page 3 - Elderly care and housing demand in the EU

Summary

The opportunities of ageing
In the EU, elderly people's proportion of total consumption will increase as a result of the ageing
population. The number of people over 75 in the EU is expected to double by 2050. Elderly people
spend a larger part of their income on housing and health compared with younger age groups.
Until 2030, EU-wide demand for care and housing for elderly people can potentially increase by
3.5% and 5.5% per year in volume respectively, based on the eleven EU countries in this research.

Ranking 1: Demographic potential Ranking 2: Income potential Ranking 3: Wealth potential
Spain, Italy and Germany at the demographic top Austrians and French have highest income potential Wealth potential highest in the Netherlands and Belgium
Spain, Italy and Germany top the first list. Spain is the only one The income potential of the elderly per country can be divided The wealth potential is highest for the elderly of the
of the selected countries that scores above EU-average on in three sub-divisions: the ‘Northwestern’ EU-countries lead the Netherlands and Belgium. Dutch financial wealth is
both elderly population growth by 2050 and the proportion of pack, with Austria and France at the top. They are followed at a considerably higher than Belgian financial wealth because of
the elderly relative to the population in 2050. Both in 2019 and distance by Italy and Spain. The three CEE-countries are at the higher (funded) pension accrual in the Netherlands.
2050, Italy will have the largest number of elderly people as a bottom end. The expected economic progress and relatively
proportion of the total population. In absolute figures, high incomes of younger seniors mean that the average
Germany will have the largest population of over 75s both in incomes of people aged 75+ in EU countries will probably grow
2019 and in 2050. the next decade.

Ranking 4: Care and home support potential Ranking 5: Senior housing potential Overall ranking
Highest care and support potential in Belgium and Romania Housing potential highest among Dutch and Spanish elderly Netherlands and Spain top the overall ranking
Elderly people in Belgium and Romania pay a relatively large By comparison, Dutch and Spanish seniors are most interested The Netherlands takes first place two times in the overall
part of the costs of home support and care themselves. in housing options for the elderly. They are also most willing to rankings: on the wealth of the elderly as well as on housing
Furthermore, they relatively often see these expenses as pay for premium housing quality. A significant proportion of potential. The Netherlands' lowest result is on demographic
essential and many seniors in Belgium and Romania consider European elderly people is open to housing options that are potential, at sixth place. The Spanish are the runner-up. In
consuming home support services that they must pay for. In tailored to the elderly, even in countries that use relatively little addition to their first place on demography, Spain has a high
the Eastern European countries, as well as in Italy, non- senior housing. potential demand for home support and elderly housing. With
professional support and care (provided by relatives or friends) wealthy seniors who highly value care, home support and
is of greater importance than professional care. elderly housing, Belgium comes at third place. Austria, France
and Germany are tied fifth in overall rankings.

ING Economics Department 3 Elderly care and housing demand in the EU – May 2019