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The young population has started to decline

by endroar
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Benefits of demographics

According to the BBS survey, more than 65 percent of people in the country are still working. As a result, favorable times prevail to take advantage of demography. However, analysts believe that a country can reap the dividends of demographics only when most of the population is working. To take advantage of this, the working population should be properly utilized. In the 1960s and 1990s, Hong Kong, Singapore, South Korea, and Taiwan benefited from the demographic dividend and achieved phenomenal economic growth.

Mostafizur Rahman, an honorary fellow of the research institute Center for Policy Dialogue (CPD) said, “A lot of time has already passed since the people were supposed to get the benefit of the census.” The elderly population will grow further in the next 15-20 years. Quality education, advanced technology and training must be ensured to harness the youth population that exists today. Bangladesh is going to transition to LDC; Then we will lose market advantage and compete, keeping in mind that we have no choice but to upskill our young population.

Mostafizur Rahman also said that it is not possible to achieve this goal by allocating 2 percent of GDP in education. If one-third of the working population is not in education, training or employment, how can we exploit this benefit of demographics? Allocation to education sector should be increased at least 100%.

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