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Baby Boomers moving to Bali
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Added: 05/11/2004
Type: Summary
Viewed: 905 time(s)
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Baby Boomers moving to Bali
The Baby Boom generation- born between 1946 and 1964-has long commanded the attention of demographers, politicians, marketers, and social scientists. Representing approximately 33 % of the western countries population Baby Boomers represent the largest single sustained growth of population in the history of the World.
As the oldest of the Baby Boomers, now 56, approach retirement it is important for business to focus on products and services they will desire over the next two decades.
They not only represent the largest segment of the population but also control over 50 % of the world’s wealth.
What is this massive demand going to desire in the future? Here are just a few of their wants according to information provided by the America Association of Retired Persons.
Baby Boomers envision a very novel type of retirement. The survey finds that most Baby Boomers believe that they will still be working during their retirement years.
Therefore, they will be interested in cottage industries or perhaps Internet related work that will allow them to work when they want, without stress, and with lots of free time for recreation and travel. The survey provides insight into other ways Baby Boomers expect to define their retirement years.
Close to half (49%), say they expect to devote more time to community service or volunteer activities during retirement.
More than seven in ten Baby Boomers (73%) say they expect to have a hobby or special interest that they will dedicate a lot of time to when they are retired.
Fully seven in ten Baby Boomers say they do not want to depend on their children during retirement.
It is worthy of note that the largest group to emerge from the segmentation analysis is characterized by self-reliance.
The "Haves," those at the high end of the household income scale with household incomes of US $70,000+ (25% of the total sample). Baby boomers are good news for Bali’s travel industry and for Bali's real estate demand. Now baby boomers can sell or rent their homes in the west and live like kings and queens in Bali. Not only can they enjoy great weather and warm friendly people but also many luxuries that they never envisioned possible before such as “Live in Maid and Cooks” for only $30 per month. Daily massages for $3.00. An abundance of fresh fruits and vegetables at 80 % less than home. Restaurants, health services and entertainment at a fraction of what they are used to paying. Bali will be very similar to Maui, Hawaii in the sixties when retirees from North America, New Zealand, Australia, and Japan purchased homes and villas for retirement and investment.
A foreigner can sell their 1200 sq. ft home for $200,000 and build 5-6 homes of the same size in Bali.
The rental income from these homes will provide not only a great retirement plan but also a source of pleasure to keep the mind and body active in retirement.
These new retirement homes can be part of a complex, which include sports, and activities that will cater to the retiring Baby Boomers. For information on properties suitable for Baby Boomers and a brand new retirement complex click on www.balirealesateagents.com Receive a free monthly newsletter Email Lawrence at lawrence@balirealestategents.com alternatively call Lawrence at 289515 |
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