Secretary for Commerce and Economic Development Algernon Yau said on Wednesday it is crucial to make it appealing for the silver-haired population to spend locally.

Yau made the remarks a day after the government announced 30 measures to further develop Hong Kong's silver economy, such as having restaurants roll out dishes that suit the needs of the elderly and offering them exclusive discounts at expos.

Speaking on an RTHK radio programme, he said the SAR has to actively tackle the challenges brought about by its ageing population in ways that will also lead to opportunities.

With Hong Kong facing a need to restructure its economy, Yau said this demographic offers new stimulus capable of boosting overall economic development.

"We hope that industries will develop more products for the silver market, so elderly people can have a comfortable living environment in Hong Kong," he said.

"So when they go out, the places they go to will have the products they want and the food they may want to eat."

Yau added that as caretakers and families of the elderly will also have certain requirements, he hopes further developments of the silver economy will also get them to spend more.

For his part, Simon Wong, president of the Hong Kong Federation of Restaurants and Related Trades, said many eateries have already offered discounts to the elderly even before the latest attempt to take development of the silver economy to the next level.

He believes more than 100 eateries will join the government's "Friends & Flavours" campaign, which will see restaurants offering meal options suitable for the elderly.

This is because these options have been made available in recent months and become very popular among older consumers, Wong added.