In this article, we'll delve into the 15 biggest retirement communities in the world, examining the retirement industry outlook and demographic projections. You can skip our detailed analysis and go directly to the 5 Biggest Retirement Communities in the World.
The aging of the global population is rapidly transforming the landscape of retirement and elderly care. With an increasing number of older adults seeking supportive and enriching environments to call home, the demand for retirement communities has skyrocketed. These communities offer a wide range of social, health, and economic benefits that make them an attractive option for those looking to enjoy their golden years to the fullest.
The world's population is aging. According to the United Nations, in 2019, the global population aged 65 and over reached 703 million, and it is expected to more than double by 2050 to 1.5 billion. This demographic shift has significant implications for the near future. The aging population is creating both challenges and opportunities for various industries, and one of the sectors that is benefitting from this trend is the retirement community industry.
Economics of Retirement Communities
Retirement communities have a significant impact on economies around the world. According to a UNC paper, in 2014 the 57 Continuing Care Retirement Communities (CCRCs) in North Carolina accommodated around 18,961 residents and provided jobs for approximately 14,906 employees with various skill levels.
Per the paper, the total ongoing purchases by CCRCs were $979 million, out of which, payroll expenses accounted for $499 million. This generated a total economic impact of $1.7 billion, including $94 million in direct and indirect taxes at the state and county levels and $152 million in federal taxes. These projections suggest that in 2034, the number of residents living in CCRCs is expected to double to 35,381, providing employment opportunities for approximately 29,752 individuals.
Furthermore, the total ongoing purchases by CCRCs, which will reach $1.8 billion, with payroll accounting for $931 million, is projected to generate an estimated total economic impact of $3.2 billion, including $174 million in direct and indirect taxes at the state and county level and $283 million in federal taxes.
The aging population also creates new opportunities for economic growth in sectors such as healthcare, senior-living, and technology. According to panelist Jody Holtzman, AARP senior vice president for Thought Leadership, the longevity economy, which includes products and services targeted toward older adults, represents a $7.1 trillion market globally.
Some of the key players represented in this sector include Welltower Inc. (NYSE:WELL), The Ensign Group, Inc. (NASDAQ:ENSG) and National HealthCare Corporation (NYSE:NHC). Welltower Inc. (NYSE:WELL) is working with various other stakeholders to fund the real estate infrastructure needed for senior housing and asssisted living.
In March, 2022, Welltower Inc. (NYSE:WELL) announced the acquisition of 33 properties for $0.5 billion, in a bid to grow its partnership with StoryPoint senior-living community. The Ensign Group, Inc. (NASDAQ:ENSG), on the other hand, provides nursing, rehabilitative and senior-living services, and The Ensign Group, Inc. (NASDAQ:ENSG) is one of the most prominent companies in this regard.
Lastly, the National HealthCare Corporation (NYSE:NHC) provides assisted-living, nursing, homecare and indepdenent-living services, among others. The assisted-living facilities provided by National HealthCare Corporation (NYSE:NHC) comprise assistance services in daily activities like dressing, cooking and medication, apart from other services.
Current Trends and Outlook
According to a report by Research and Markets, the retirement-communities market was worth $189.3 billion in 2020, having grown at a compound annual growth rate (CAGR) of 0.1% since 2015. However, as the retirement rate of baby boomers increases, the market is expected to pick up pace.
Projections indicate that the market will grow with a CAGR of 5.6% from 2025, and by 2030, it is predicted to reach $374.7 billion. The report cites factors such as the increasing aging population, advancements in technology, and the growing trend of aging in place as driving the growth of the industry.
Moreover, the increase in demand for healthcare services and products by aging populations can drive technological advancements and innovation in healthcare. The ReportLinker estimates that the market for assistive technologies for aging populations and the disabled will reach $34 billion by 2027, creating new opportunities for economic growth and innovation.
With that said, let's now move on to the 15 biggest retirement communities in the world.
Methodology
We have defined retirement communities by their size, and in that regard, have ranked them based on the number of people being taken care of in each community. To complement the list, we've also discussed factors such as amenities and location, among others.
Our research covered retirement communities across different regions to provide a global perspective. We've sourced the population sizes of these communities from their websites, and other verifiable sources.
Here are the 15 biggest retirement communities in the world.
15. Athashri Senior Living, India
Number of Residents: 2,000
Athashri is a senior living concept that caters to the needs of the elderly. It aims to provide a dignified, safe, healthy, and enjoyable living experience for senior citizens. It accommodates over 2,000 senior families already residing in its communities,
Athashri has grown to become the largest senior citizen community in India. It has six communities located in Pune, including Athashri Valley in Bhugaon and the newly opened Athashri Pebbles in Bavdhan. Athashri also operates in Vadodara and Bengaluru and has plans to expand its presence to the United States shortly.
14. Tellico Village, Tennessee, USA
Number of Residents: 3,983
A leading active adult retirement community, Tellico Village is situated in Tennessee. It was first built in 1987 and is now regarded as one of the Southeast's top retirement communities.
A wide range of amenities, including recreational and wellness centers, three award-winning golf courses, a yacht club, walking and bicycling trails, boating, and water sports, and more can be found in Tellico Village, which is located on 4,800 acres on Tellico Lake. Tellico Village is home to 3,983 senior citizens, and the neighborhood is expanding.
13. Covenant Retirement Communities, USA
Number of Residents: 5,000
Covenant Retirement Communities is a non-profit organization that manages over 15 senior living communities in nine states across the US, providing a range of senior care services. They promote an active and engaged lifestyle for their residents through personalized services, community support, and a variety of programs and amenities.
They are a member of Covenant Living Communities and Services, one of the largest non-profit senior living providers in the US. Covenant Retirement Communities house 5,000 residents, as per Senior Housing News, who receive a variety of care services, including independent living, assisted living, skilled nursing, memory care, and rehabilitation within this organization.
12. Metlifecare Greenwich Gardens Retirement Village, New Zealand
Number of Residents: 5,500
Metlifecare Greenwich Gardens Retirement Village is a retirement community in New Zealand that provides various housing options, such as independent living units, serviced apartments, and rest home care. Along with a library, indoor swimming pool, spa, gym, and hair salon, the village also offers restaurant-style dining and a wide range of amenities and services for its residents. It is reported to have approximately 5500 residents.
11. Summerset Retirement Village, New Zealand
Number of Residents: 7,000
Summerset Retirement Village operates retirement villages across New Zealand, providing living options for older adults in independent living units, serviced apartments, and care centers. Their mission is to provide older adults with a range of living options that are tailored to their individual needs and preferences.
With over 7,000 residents, Summerset's retirement villages offer amenities such as dining areas, lounges, libraries, and gardens, as well as a focus on technology to help residents stay connected and monitor their health.
10. Leisure World, Maryland, USA
Number of Residents: 8,000
With a population of over 8,000 residents, Leisure World is a retirement community situated in Maryland, USA. The community offers a range of amenities to cater to the needs of older adults seeking an active lifestyle, such as golf courses, swimming pools, and fitness centers.
Communities like Leisure World provide a comfortable and secure living environment for seniors. Moreover, Leisure World is a self-contained community that offers healthcare services, transportation, and grocery stores, making it easier for seniors to access essential services.
The community also has a vibrant social scene, with numerous clubs and organizations, allowing residents to build friendships and enjoy a sense of community.
9. Shanghai Renshoutang Eldercare, China
Number of Residents: 11,000
Shanghai Renshoutang Eldercare Group is one of the biggest retirment communities in the world. It operates several facilities throughout Shanghai, including nursing homes, assisted living facilities, and rehabilitation centers. The company is known for its high standards of care and modern, well-equipped facilities.
They have also implemented innovative technologies and programs to enhance the quality of life and well-being of their residents. Renshoutang is poised to establish itself as one of the leading eldercare services providers due to its extensive portfolio of approximately 11,000 operating beds, coupled with its access to a committed pipeline of more than 4,000 beds.
8. Kings Point, Florida, USA
Number of Residents: 12,207
Kings Point in Florida, is one of the biggest retirement communities in the world. It is a highly favored location by seniors, boasting 12,207 residents as of the 2000 census.
In the United States, Florida has the highest percentage, at 19%, of individuals aged 65 years or older in its population. The community provides an array of amenities that caters to the lifestyle needs of the residents, such as several golf courses, fitness centers, swimming pools, and a performing arts theater.
7. Kursana, Germany
Number of Residents: 13,400
Kursana is a renowned provider of nursing and care services for the elderly in Germany. With 35 years of experience and 115 facilities, they offer individualized care to almost 13,400 residents across nursing homes, assisted living facilities, and rehabilitation centers.
Kursana's international expansion into Austria, Switzerland, and Italy reflect their commitment to quality care beyond Germany. Their attentive approach to care has earned them a sterling reputation as one of the most trusted names in elderly care in Germany and beyond.
6. Sun City Summerlin, Nevada, USA
Number of Residents: 14,984
Sun City Summerlin is an active adult community located in the idyllic northwest region of Las Vegas, Nevada, which is designed to cater to the needs of residents aged 55 and above.
The community is home to around 14,984 individuals, per City Facts, and it offers an all-inclusive living experience with a vast selection of amenities, ranging from top-of-the-line golf courses to state-of-the-art fitness centers and sparkling swimming pools. Additionally, residents can enjoy pristine tennis courts and a variety of other recreational facilities.
