The death industry is about to become big business in China.
Bank of America Merrill Lynch is out with a massive report on what it calls the “longevity revolution.”
Among myriad topics, BAML discusses growth in the “death care industry” in China, which is set to see its population over 65 grow significantly in the coming years.
BAML says that by 2050, China’s current 65+ population of 119 million is expected to double.
As the populations ages, the number of deaths is also forecast to rise to 10.4 million annually by 2015.
BAML expects the death industry to grow 17% to about 100 million yuan per year, as the cost of burial and funeral services increases.