Capacity Planning for Social Infrastructure of Smart Retirement Villages

Ambient assisted living technologies embedded in smart retirement villages can significantly decrease the risk of falls and other accidents and therefore prolong or even prevent moving of residents to a nursing home. The spatial planning, development, and management of smart retirement villages with embedded ambient intelligence as a risk mitigation strategy in fast ageing rural areas are of specific interest. This study seeks to investigate the exposure to different risks presented by the built environments of rural areas. Living in smart retirement village mitigates the risk of accidents and social exclusion, thereby creating value for the residents and health and long-term care insurance institutes. The paper presents method for measurement of social value created by the development of smart silver villages. Social value created by the mitigation of the risk of falls, diseases, and social exclusion is measured using actuarial present value and multiple decrement model approach, which is a novelty. The actuarial present value will provide scientific evidence of the benefits of the development of smart retirement villages as social infrastructure for older adults in rural areas. Copyright (c) 2022 The Authors. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0/)