AS the ringgit goes through a phase of depreciation, we find ourselves not only confronted with a challenge, but also an unexpected opportunity to usher in a positive shift in our society.
The Malaysia My Second Home (MM2H) programme has become more affordable due to the prevailing currency scenario, which is a magnet for international retirees.
Furthermore, the depreciating ringgit has sparked a surge of interest in our burgeoning medical tourism industry, making top-notch healthcare more accessible to expats.
Picture this: Living your golden years in a peaceful, serene retirement home that is enveloped in the natural beauty of Malaysia with rich cultural heritage while also gaining easy access to cutting-edge healthcare services.
It is an appealing prospect for those seeking elderly care.
This dream is now attainable for many prospective expats, thanks to the ongoing economic circumstances.
However, it is also important to look at the other side of the coin and the broader picture.
As the ringgit continues to weaken, Malaysians grapple with rising cost of living, leading many to reconsider or postpone their retirement plans. This unsettling reality demands our attention.
Our challenge lies in steering the economic ship through these stormy waters, finding ways to safeguard our citizens' welfare while welcoming those who wish to make Malaysia their second home.
A recent systematic review that examines the wellbeing and experiences of elderly individuals living in residential care homes across Southeast Asia, particularly Malaysia, sheds light on critical factors that can enhance residents' quality of life.
The research delves into how the physical and social environment contributes to the wellbeing of residents, providing insights that could help us refine these living spaces for our ageing population and prospective expat retirees.
The study underscores the importance of the physical environment — including design, geographical location, building layout, indoor and outdoor spaces, cleanliness, and facilities — in impacting residents' quality of life.
Equally, the social environment — social connections, interactions, and personal experiences within various social settings — plays a significant role in bolstering residents' wellbeing.
With the depreciating currency making the MM2H programme an attractive proposition for international retirees, we are witnessing a surge in expat arrivals. Hence, the aforementioned insights take on greater importance.
We must harness this knowledge to enhance our residential care homes, catering not just to international retirees, but also our fellow Malaysians.
The ebb and flow of economic tides necessitate a delicate balancing act, compelling us to capitalise on this surprise windfall without overlooking the needs of our own people.
This moment presents us with an opportunity to rethink and revamp our retirement care industry, transforming Malaysia into a preferred destination for locals and foreigners alike to enjoy their twilight years.
DR CHEE KWAN FOONG & PROF LONG CHIAU MING
School of Medical and Life Sciences, Sunway University;
DR SERENA LEOW WAI YEE
School of Arts, Sunway University