How DBS drives changes with lasting impact for Hong Kong's ageing population
Hong Kong officially became a 'super-aged society' last year – a designation by the World Health Organization for places where more than 20 per cent of the population is aged 65 or older. The city crossed that threshold with 22 per cent of its residents over 65.
By 2050, the United Nations predicts that this figure will climb to 40.6 per cent – giving Hong Kong the world's highest proportion of people over 65, ahead of South Korea and Japan.
This demographic shift presents significant challenges, from a shrinking workforce to increasing pressure on healthcare and social security systems.
However, DBS Bank, a Singapore-headquartered multinational financial services firm, sees these global changes not only as challenges but also as opportunities to identify and support solutions that tackle urgent social needs.
'At DBS, we manage our business in a balanced and responsible way,' Sebastian Paredes, DBS' head of North Asia and CEO of DBS Bank (Hong Kong), says. 'In addition to supporting businesses, we aim to support and create long-term value for local communities and people – for their lives and livelihoods. This is more critical than ever, given the growing uncertainty the world is facing.
'I believe businesses here have a crucial role in reshaping societal mindsets around ageing, hence we look to realise opportunities that increase health spans in tandem with lifespans.'
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