According to Demographers, more or less within the next 50 years it is quite possible that for the first time in history there will be more people of 60 years of age or more, than children of fifteen or under.

In more developed areas, the number of older people already exceed the younger population. In fact, nowadays the population of people in their sixties more or less makes up 20% of the total population in almost all the countries in the European Union. In some countries such as Italy, Austria, Spain, etc., they probably exceed 40%.

In Spain, almost seven million people of 65 years or more, mainly pensioners, have become a growing economic sector. Residencies, adapted housing for older people, organized trips or holidays, specialised means of communication etc all mean that the market for the older generation is a growing force.

Old people already make up 17% of the Spanish population according to the National Institute of Statistics. By the middle of this century, Spain will have the most aged population in the world. The Spanish population is on the point of having a negative growth rate. Women are having children later in life, young people are becoming independent and leaving home later and the so-called senior citizens are enjoying more quality of life during a longer period of time.

The greater older generation market will, without a doubt, appear when the people who were young in the seventies reach retirement. This was the generation that discovered consumerism and hire purchase

The image of the older generation that we have does not reflect reality. We consider them to be unable to help themselves, ill and with little money. However the situation is arising where retired people may have more money at their disposal then when they were working. The interesting thing is that they now also have the time to enjoy spending this money. Many people who work also have money at their disposal, but do all of them have the time to enjoy it?

Retired people mainly spend their money on food, housing, medicine, etc…but undoubtedly they also spend on healthcare, leisure, tourism, trips etc…

There is a great demand for products for older people, however the main problem is that many companies do not know what to offer. It is so clear that there is a growing market that many advertisements are made bearing in mind older people. Marketing specialists know that is is a market with many possibilities.
Some trends that are becoming obvious with reference to this market are:

1. Healthy breaks: in a spa. Commonly hidden away in beautiful natural places, thermal spas have become genuine healthy holiday centres

2. Massage Therapy Centres. Many hotels in the Canary Islands are now incorporating massage therapy centres as another option in the services that they have on offer.

3. Centres and holiday homes for older people without architectural barriers for the disabled

4. Special residencies for senior citizens. There is an important development sector in Spain which is specialising in residencies for older people. They are neither hospitals or luxury housing but residencies especially for senior citizens where all their needs are catered for.

5. Pension plans. Retirement insurances and pensions are becoming more evident

6. Retirement homes. We do not only have our senior citizens in this country but every day other retired people from other parts of Europe are also choosing Spain as a place to enjoy their retirement due to the combination of quality of life, social benefits and especially due to the climate and various social reasons (hospitality of the people, lower level of delinquency).

It is obvious that from the point of view of the market, an ageing population is becoming a potential differential consumer group with regard to the demand of products and services, especially if the new and future generations of senior citizens have buying power.

Lengthening peoples lifespan, delaying retirement, making retirement more flexible in order to make it a more attractive prospect will be another challenge in the future reality.It is clear that the senior citizens will generate more services and thousands of new job roles in the near future.

Life is the most valued gift that we have been granted, enjoying it is a right and something we must do. Every day more old people are deciding to spend the rest of their lives in a peaceful and warm place, to rest, to contemplate beautiful landscapes, to meet other people of their age with whom they have things in common, and to feel nurtured by thermal spas that alleviate their aches and pains and help their circulation, etc.