Slovakia’s population is shrinking and getting older. While this means an increasing pressure on public finances, the growing demand for care services may be viewed as a business opportunity.
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The low birth rate and higher life expectancy are changing the population structure in the country. As a result, the working age population is shrinking while the relative number of pensioners is expanding. The share of older people in the total population will increase significantly in the coming decades.
“Services like nursing or physiotherapy intended for seniors have major development potential in Slovakia,” economist Vladimír Baláž of the Institute for Forecasting of the Slovak Academy of Sciences told The Slovak Spectator. “Even now, the demand for these services is high and seniors are willing to pay for them.”
Demand set to grow