Tourist trains to target silver-haired spenders

Bloomberg

China plans to roll out a network of tourist trains equipped with medical and elder-care facilities as part of its efforts to create a "silver economy" and unlock the spending power of its aging population.

The Culture and Tourism and Commerce ministries, along with China State Railway Group, yesterday issued a guideline action plan to launch trains specifically designed for retiree tourists.

A nationwide "silver tourist train" network featuring "diversified tourist routes, a wide range of tourism themes and comprehensive services" will be built by 2027, the document said.

A 1960s baby boom and subsequent decades-long one-child policy have turned China into one of the world's quickest-aging populations. One-in-five of the mainland's 1.4 billion people were aged 60 or older at the end of 2022 - with the ratio set to exceed 30 percent in a decade, according to China's National Health Commission.

Many of these seniors have retired with pensions and significant savings, meaning they are one of the rare groups of people China can tap to revive spending at a time a long-running property crisis and increasing trade tensions are dragging on economic growth.

International tourism companies and tourist train operators can also participate in the plan, said the document. National and local railway development funds are also encouraged to support the concept.

Medical institutions will also be encouraged to work with the railway department to provide medical personnel and emergency treatment resources.

Medical expenses incurred on the network can be claimed on health insurance.