With the graying of Taiwan's population, there is a "great business opportunity" for the construction of sheltered housing for the elderly, the Council for Economic Planning and Development said in a report issued Wednesday.
The CEPD's Manpower Planning Department said in the report that the sheltered housing, which combines homes with professional medical care, will be in great need as the population continues to age. It added that there are currently 1.99 million elderly people and that the number is increasing by more than 100,000 per year.
The report noted the current practice of hiring foreign caregivers to take care of the elderly and said that the government should encourage the private sector to build sheltered housing and ease a ban on zoning restrictions, which it said would also increase job opportunities.
CEPD statistics show that the number of elderly will account for one-fifth of the total population by 2036.