Massive influx of Chinese looking to retire overseas
China has a major demographics problem, where an estimated 360 million Chinese will be over the age of 60 by the year 2030. This number of retirees is greater than the current population of the United States.
With the Chinese population aging while becoming more wealthy, millions are looking overseas to find higher quality of life for retirement. These upper middle class retirees are moving to places with strong healthcare, warm, sunny climates, and better environmental standards such as Australia, Canada, the United Kingdom, and the United States, specifically the southern warm locations like California, Florida, and Texas.
The elderly Chinese tourism market spiked an astounding 217% from 2014 to 2015, with numbers showing no sign of slowing. With the elderly Chinese becoming more comfortable with visiting new cultures, they are increasingly finding comfort in living with people of their home culture in different countries.
Companies all over the world are setting up marketing plans to build communities intended for this population. We may see that market become popular in the Austin area with our clean environment, strong healthcare, and relatively affordable land.