The share of India's population aged 60 and above is projected to rise from 8.6% in 2011 to nearly 20% by 2050, according to UN Population Fund (UNFPA). Consumption varies among households with elderly members across economic groups, with stark contrasts between households comprising the rich (20%), middle (60%) and poor (20%).
Urban and rural differences, and family structures - joint vs nuclear - further influence spending behaviours. These changing consumption patterns are set to shape the structure of society in the decades to come.
Healthcare: Households with elderly members allocate 12% of their total consumption expenditure to healthcare, compared to 5% in households without them. Access to quality healthcare remains a concern, with 60% of elderly patients opting for private hospitals despite higher costs. The financial strain of such expenses often forces seniors to prioritise medical needs over other aspects of their lives.
Wealthier seniors can afford private hospitals, specialist doctors and premium health insurance plans, particularly in urban areas. The middle segment relies on a mix of private and government healthcare, balancing out-of-pocket (OOP) expenses with insurance coverage.
The poor, especially in rural areas, face critical healthcare limitations. Treatments are often delayed due to financial constraints, and depend on government hospitals and welfare schemes.
Nutrition choices: Affluent seniors, particularly in urban areas, prioritise organic foods, specialised diets and dietary supplements for longevity and wellness. Middle-income groups try to balance home-cooked meals with occasional healthy foods and supplements. Low-income groups, especially in rural regions, rely on staple grains and local produce. This limited variety increases the risk of nutrient deficiencies.
Elderly individuals living in joint families tend to receive more consistent nutritional support, as family members contribute to caregiving. In contrast, nuclear families, especially in urban settings, may lead to greater reliance on processed or convenience foods.
Tech adoption: While over half of Indian seniors now use smartphones, this trend is largely driven by the rich. The middle class is increasingly adopting digital tools. But many elderly members still rely on younger family members for assistance. The poor have limited access to smartphones, the internet and digital literacy programmes. Elderly individuals in joint families, however, are often introduced to tech by younger relatives.
Housing choices: Rich seniors are increasingly moving into luxury senior living communities that offer caregivers, recreational facilities and wellness programmes. Middle-income groups remain in traditional joint family setups or self-owned homes, adapting spaces informally for ageing needs but without professional care.
Low-income groups often live in shared or substandard housing, with little or no elderly-friendly infra. They rely on state-supported housing schemes for shelter. In urban areas, the shift toward nuclear families has led to more seniors living alone, increasing their dependence on paid caregivers. In contrast, rural joint families often continue to provide intergenerational support.
Financial security: The rich maintain financial independence through pensions, FDs, real estate and stock market investments. The middle classes often struggle with financial planning, juggling pensions, small savings and family support, while worrying about inflation and escalating medical costs.
The poor remain economically vulnerable, relying almost entirely on government pensions, daily earnings or financial assistance from family. Rural seniors in this group generally have limited access to pension benefits and formal financial services, further widening the economic gap.
Leisure and travel: The rich engage in international travel, wellness retreats and luxury experiences tailored for senior citizens. The middle opt for domestic vacations, occasional leisure trips and religious tourism, depending on savings and family involvement. The poor primarily participate in religious tourism and community-based events, such as temple visits.
Urban nuclear family seniors tend to travel more independently. Those in rural joint families often undertake religious pilgrimages together, maintaining traditional forms of social engagement.
Bridging the gap between the rich, middle and poor, between urban and rural elderly populations, and different family structures requires affordable healthcare solutions, accessible tech education, sustainable pension schemes and inclusive housing policies.
As the country moves toward an ageing economy, addressing these disparities will be essential for fostering a sustainable and inclusive future for all senior citizens.
The writer is MD-CEO, PRICE.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com)
( Originally published on May 15, 2025 )
Urban and rural differences, and family structures - joint vs nuclear - further influence spending behaviours. These changing consumption patterns are set to shape the structure of society in the decades to come.
Healthcare: Households with elderly members allocate 12% of their total consumption expenditure to healthcare, compared to 5% in households without them. Access to quality healthcare remains a concern, with 60% of elderly patients opting for private hospitals despite higher costs. The financial strain of such expenses often forces seniors to prioritise medical needs over other aspects of their lives.
Wealthier seniors can afford private hospitals, specialist doctors and premium health insurance plans, particularly in urban areas. The middle segment relies on a mix of private and government healthcare, balancing out-of-pocket (OOP) expenses with insurance coverage.
The poor, especially in rural areas, face critical healthcare limitations. Treatments are often delayed due to financial constraints, and depend on government hospitals and welfare schemes.
Nutrition choices: Affluent seniors, particularly in urban areas, prioritise organic foods, specialised diets and dietary supplements for longevity and wellness. Middle-income groups try to balance home-cooked meals with occasional healthy foods and supplements. Low-income groups, especially in rural regions, rely on staple grains and local produce. This limited variety increases the risk of nutrient deficiencies.
Elderly individuals living in joint families tend to receive more consistent nutritional support, as family members contribute to caregiving. In contrast, nuclear families, especially in urban settings, may lead to greater reliance on processed or convenience foods.
Tech adoption: While over half of Indian seniors now use smartphones, this trend is largely driven by the rich. The middle class is increasingly adopting digital tools. But many elderly members still rely on younger family members for assistance. The poor have limited access to smartphones, the internet and digital literacy programmes. Elderly individuals in joint families, however, are often introduced to tech by younger relatives.
Housing choices: Rich seniors are increasingly moving into luxury senior living communities that offer caregivers, recreational facilities and wellness programmes. Middle-income groups remain in traditional joint family setups or self-owned homes, adapting spaces informally for ageing needs but without professional care.
Low-income groups often live in shared or substandard housing, with little or no elderly-friendly infra. They rely on state-supported housing schemes for shelter. In urban areas, the shift toward nuclear families has led to more seniors living alone, increasing their dependence on paid caregivers. In contrast, rural joint families often continue to provide intergenerational support.
Financial security: The rich maintain financial independence through pensions, FDs, real estate and stock market investments. The middle classes often struggle with financial planning, juggling pensions, small savings and family support, while worrying about inflation and escalating medical costs.
The poor remain economically vulnerable, relying almost entirely on government pensions, daily earnings or financial assistance from family. Rural seniors in this group generally have limited access to pension benefits and formal financial services, further widening the economic gap.
Leisure and travel: The rich engage in international travel, wellness retreats and luxury experiences tailored for senior citizens. The middle opt for domestic vacations, occasional leisure trips and religious tourism, depending on savings and family involvement. The poor primarily participate in religious tourism and community-based events, such as temple visits.
Urban nuclear family seniors tend to travel more independently. Those in rural joint families often undertake religious pilgrimages together, maintaining traditional forms of social engagement.
Bridging the gap between the rich, middle and poor, between urban and rural elderly populations, and different family structures requires affordable healthcare solutions, accessible tech education, sustainable pension schemes and inclusive housing policies.
As the country moves toward an ageing economy, addressing these disparities will be essential for fostering a sustainable and inclusive future for all senior citizens.
The writer is MD-CEO, PRICE.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com)
( Originally published on May 15, 2025 )
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