Wednesday, January 04, 2006

Japanese retiring to the Philippines

Many elderly Japanese are retiring to the Philippines, where their yen go further. These retirees are buying not just condos but even space in retirement homes there.

Related to this trend is a labor shortage arising from falling birth rates:folks over 60 are making up a larger and larger percentage of Japan's population as the country's baby boomers get older. As a result, there are more people in the old folks homes but a shrinking labor pool from which to hire people to work there. One solution is to "export" the aged. Another solution that Japan is pursuing is robotics.

—Mellow Monk

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