Attracting Retirees as an Economic Development Strategy: Looking into the Future

Attracting retirees has been promoted as an economic development strategy for rural communities. Implicit in efforts to attract retirees is the assumption that retirees will continue to migrate at the same rate, bringing with them relatively high incomes and relatively low demands for services. Using currently available information, this article examines this assumption, and provides a less rosy picture, by analyzing how changes in demographics, income, wealth, and living preferences result in future retirement decisions that differ from the current pattern. This study should provide additional guidance and caution to planners and policy makers contemplating retiree recruitment as a rural development strategy, as well as directions for further research.