SWOT Matrix Analysis of the Health and Wellness Industry in the Guangdong-Hong Kong-Macao Greater Bay Area

Abstract

With the intensification of population aging in China, the aging issue among the migrant population in the Guangdong–Hong Kong–Macao Greater Bay Area (GBA) has become particularly prominent. The development of the health and wellness industry has emerged as a crucial strategy to alleviate the pressure on medical insurance and enhance the quality of elderly care. This study employs the SWOT matrix analysis method to examine the internal strengths and weaknesses as well as the external opportunities and threats of the health and wellness industry in the GBA. The findings indicate that the GBA possesses significant advantages in terms of policy support, regional coordination, the investment environment, and technological innovation. However, it also faces challenges such as local governance barriers, uneven regional development, high costs, and a lack of unified standards. External opportunities include the benefits of national strategic policies, deepening regional integration, and the ability to draw on international experiences. In contrast, unstable international situations and intensified regional competition pose external threats. On the basis of these findings, this study proposes strategies to strengthen top-level design, innovate policy instruments, construct a full-industry-chain system, expand the scope of medical insurance payments, establish risk hedging mechanisms, and innovate business models for health and wellness. These strategies aim to promote the sustainable development of the health and wellness industry in the GBA and improve the quality of elderly care services for key populations in integrated medical and elderly care.