HK life expectancy rises, highlighting need for ‘silver economy’ shift

A new analysis of insurance data has revealed that the average life expectancy in Hong Kong has reached 88.6 years for women and 84.2 years for men, underscoring the city's status as one of the world's longest-living populations.

The findings, drawn from 105,000 insurance claims processed between 2014 and 2021, were released by the Actuarial Society of Hong Kong (ASHK) on Tuesday.

The study, which compiled data from 13 insurance companies, shows figures slightly higher than the 88.4 years for women and 82.8 years for men recently published by the Centre for Health Protection for 2024.

The report identifies a persistent gender gap, with women living on average over four years longer than men. Experts from the Society attribute this disparity to biological and behavioral factors.

The protective effect of pre-menopausal hormones in women delays the onset of cardiovascular diseases and reduces their risk compared to men, it said. Furthermore, women are generally more proactive in seeking preventive healthcare and medical consultation.

In contrast, men are more likely to engage in higher-risk behaviors such as smoking and drinking and are disproportionately represented in hazardous occupations like construction, the report read.

Cancer remains the leading cause of death, accounting for over 40 percent of claims, followed by cardiovascular diseases at 12.8 percent. In a concerning trend, the data also showed a more than 20 percent rise in the suicide rate among individuals under the age of 25.

Beyond analyzing mortality, the ASHK used the report to issue an urgent call to action.

It emphasizes that an aging population with such longevity necessitates a transformative shift towards a "silver economy."

The Society urges the government and businesses to prioritize the development of inclusive products, services, and community infrastructure tailored to the needs of older adults.

Additionally, the report recommends further research into the root causes of the male longevity gap and calls for enhanced mental health support for young people, alongside creating a more supportive and inclusive environment for the city's aging demographic.

(Marco Lam)