Classes for people with gray hair are booming.

Chinese woman Cui Chunyun attends dance classes at the Mama Sunset center in Beijing to stay in shape and delay going to nursing home.

"People over 70 can still dance," said the 60-year-old retired accountant. "I want to exercise to stay healthy."

The center where Ms. Cui Chunyun is studying has 20 different facilities serving thousands of people over 50. They are considering expanding to 200 facilities within the next three years.

Similarly, Nasdaq-based online learning service Quantasing is planning to hire more instructors in martial arts, medicine, video editing, and memory training for its senior citizen classes. Quantasing's revenue increased 24.7% year-over-year to $136 million, with nearly 45% more subscribers by the end of 2023.

China's aging population is fueling the growth of the "silver hair economy ." Over the next 10 years, China is expected to have 300 million retirees. Companies capitalizing on this trend have offered classes to middle-class seniors, such as yoga, drumming, and smartphone photography.

A senior citizens' singing class in Beijing, China, in January 2024. Photo: Reuters

"The education industry is shifting its focus to the elderly market," said Qiu Peilin, director of Mama Sunset's Beijing branch. Consulting firm Frost & Sullivan projects the senior citizens' classroom market to achieve a compound annual growth rate of 34%, reaching $16.8 billion by 2027.

Rachel He, director of market research firm Euromonitor, said that elderly Chinese consumers are a promising group but will not be a profitable one.

Older people are not inclined to spend money on themselves. The average monthly pension is $400-$800, but the Asia-Pacific employment services company Nomura estimates that 160 million Chinese people receive pensions of around $14 per month.

A class at Mama Sunset costs between $6 and $8, while a package of 36 classes costs $275. At Quantasing, one- to three-month packages range from $1,980 to $275-$513.

Ngoc Ngan (According to Reuters )

Source: https://vnexpress.net/no-ro-lop-hoc-toc-bac-4724650.html