ABSTRACT

The age composition of a country changes as a result of demographic transition. Due to medical advancement, life expectancy has increased significantly and people are living longer. However, this change in the age structure of a country brings many demographic challenges. With the increasing global aging population, the demand for health and quality of care for elders increases with time. Globalization has a big influence on the lives of older people, and it has significantly changed cultural values worldwide. In developed countries, old age homes have become a popular business in recent years because more and more elderly need special care to have quality remaining years of life. On the other hand, family structures are changing with time in developing countries too. With changing society and the rise in nuclear and dual-earner families, children find it difficult to take time out of their busy schedules to spend with their parents. Pakistan is one such society. The number of older population of Pakistan aged 60 and elder is evaluated to almost double from 7% (14 million) in 2019 to 14 % by 2050. This demographic trend increases the opportunity for entrepreneurs and investors to invest in the old-age homes industry. However, the socio-cultural environment of a country such as Pakistan where sending elderly parents to old age homes is considered disrespectful. The aim of the study, therefore, is to investigate the demand for oldage homes, and whether it would be a viable business option or not in Pakistan. A qualitative methodology is adopted for the study. A purposive sample of 7 old-age homeowners and 25 elderly men and women are selected  from old-age homes in Rawalpindi/Islamabad, Pakistan. In-depth interviews were conducted through audio recording and then transcribed.  Thematic analysis was done to extract the themes and understand the data. The analysis revealed that the demand for oldage homes is  increasing and it would be a viable business option in Pakistan. Residents of old-age homes feel satisfied living in an old-age home and also  agreed that there should be old-age homes and their demand will also increase in the future.