FEBRUARY 2012 |
www.opp.org.uk
BUSINESS
Exhibit 2. Total Population of Greece and by Age Groups Among 55+ in 2012, 2017, and 2022 Percent of Total Population and Percent Growth of Each Age Group
Age Group
Total Population Total 55+ Age 55-59 Age 60-64 Age 65-69 Age 70-74 Age 75-79 80+
2012
12,022,630 4,149,044 722,564 671,553 545,992 516,144 485,287
1,207,504
Percent of Total
2017
35% 6% 6% 5% 4% 4%
10%
12,229,673 4,461,347 766,789 703,936 641,144 505,231 443,995
1,400,252 Percent of Total 2022
36% 6% 6% 5% 4% 4%
11%
12,311,211 4,716,833 814,591 746,565 673,458 592,020 440,575
1,449,624
Percent of Total
55+ DEVELOPMENT | 33
38% 7% 6% 5% 5% 4%
12% Source: United Nations, Department of Economic and Social Aff airs, Population Division (2011)
of the population in Greece who are immigrants into the country. The majority of the population is between 18 and 55. Currently, 25% of the total population is 55+ years of age (Exhibit 1). And Projections by Eurostat suggest that by 2050, the number of citizens 65+ will rise to 45% of the total population, primarily because of the slowing birth rate in Greece. Data from the United Nations population estimates (Exhibit 2) that the total population of Greece exhibits a larger population and a higher proportion of 55+ than the census of the “resident population.” UN data estimates that in 2012 the 55+ population will represent 35% of the total population of Greece and that it is expected to grow to 38% by 2022.
Life Expectancy Greece’s life expectancy at birth is
currently at 77.4 years for men and 82.6 years for women (Exhibit 3). The total remaining life expectancy (for both women and men) at 75 is 11.1 years. Prior to 1975 Greece had signifi cant outward migration. This trend changed between 1975 and 1980 and continues to yield a positive net immigration today.
Greece’s net number of
immigrants was 154,000 between 2005 and 2010 (Exhibit 4). This number has fallen from a net immigration high of 470,000 between 1990 and 1995. The country attracts immigrants from more than 26 countries around the world. Albania has Greece’s highest proportion of legal immigrant residents representing roughly 45% of the 116,000 immigrants in 2007. Five other countries: Bulgaria, Romania, Pakistan, Georgia, and Eqypt represented approximately 30% and the remaining
Exhibit 3. Life Expectancy at Birth and at 75
10 20 30 40 50 60 70 80 90
0
Life Expectancy at Birth Life Expectancy at 75
Male 77.36
Female 82.65
Total
79.92 11.1
Source: United Nations, Department of Economic and Social Aff airs, Population Division
82.65 77.36 79.92
25% of immigrants were from the remaining countries. There is no age- qualifi ed housing industry in Greece, to speak of. We could not identify any developments of any size that target the foreign market to move to or retire to Greece.
There are several
“Developing a 55+ housing industry in Greece will make living in the country better for everyone”
real estate agencies selling homes who pitch Greece as a place to retire, but no developers who offer housing in a residential community designed for the 55+ market. The market is ripe for some real leadership. Lifestyle or Active Adult Housing: Despite an exhaustive search and
contact with colleagues in Greece, we were unable to identify a single 55+ community that targets the domestic or foreign consumer looking for what we refer to as a lifestyle or active adult community. This type of community typically provides a central club house or community centre that serves as a social hub for the home owners. Larger communities usually have a variety of amenities and possibility a part-time or full-time lifestyle director who facilitates social events and other programmes desired by the residents. Service-Enriched Housing - there is little housing in Greece for individuals requiring assistance. Because of the Greek preference to care for family members at home, the key features of the support system in Greece for people requiring assistance are oriented to care at home and include disability benefi ts and pensions, provision of aids and equipment and state-funded community-based or short-term residential rehabilitation services. Help is provided at home through local social services departments and networks of support centres. We found a few communities that provide personal assistance and nursing care services in Greece. The Arete Assisted Living Residence is on a par with top quality communities found in other countries. As women in Greece continue to join the work force, the importance of a top quality professional to assist in caring for family members requiring assistance will grow. In 2008 48% of women and 75% percent of men between the ages of 15 and 64 were employed outside of the family home.
Exhibit 4. Net Migration to Greece from 1950 to 2010 (1,000s)
100 200 300 400 500
11.1
-200 -100 0
-300 195
55 -77 0-19
5-19
195 60
-124
-217 0-19
196 65
5-19 0-19 5-19
196 70
-188
75 -72
197 80
278 197 198 0-19
85 64
155 5-19
198 90
470 0-19
199 95
300 5-20
199 00
193 0-20
200 05
154 5-20
200 10
Source: United Nations, Department of Economic and social Aff airs, Population Division (2011)
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