THE SILVER ECONOMY: BUSINESS MODELS AND SUSTAINABILITY FACTORS IN ELDERLY CARE SERVICES IN GREATER BANGKOK

Abstract

This research article aims to: 1. study the business operation models of elderly care services in Bangkok and its metropolitan area; 2. analyze the factors affecting the success and sustainability of the business from case studies; and 3. propose policy recommendations for the government and relevant agencies. A qualitative research approach was employed through case studies of three private sector enterprises, representing large-, medium-, and small-sized operations. The research instruments included documentary research and in-depth, purposive interviews. Data were collected from both primary and secondary sources relevant to the study, as well as from key informants through in-depth interviews. Data analysis involved systematically organizing the collected information, categorizing key components, and identifying relationships among the data to enable hermeneutic interpretation. Interpretative analysis techniques were applied to synthesize the findings, guided by relevant concepts and theoretical frameworks.

The findings reveal that: 1. service models consist of long-term care centers, home-based elderly care services, and day care centers; 2. key factors contributing to business success and sustainability include the availability of specialized skilled personnel, the adaptation of business models to align with Thai social and cultural contexts, and supportive government policies; and 3. policy recommendations for the government and related agencies include developing standardized legal frameworks and support systems for elderly care services across healthcare facilities, wellness businesses, and community-based day care centers to alleviate the future burden on the public health system. Additionally, promoting savings systems for long-term health security, enhancing public awareness to foster positive attitudes toward elderly care centers as rehabilitation facilities, and advancing wellness tourism to position Thailand as a leading retirement destination are essential for achieving both economic sustainability and improved quality of life for the elderly.