Summary
Highlights
The demographic dividend refers to accelerated economic growth that happens when a population has many working-age people, and governments empower, educate, and employ these workers. It begins with a shift in the population's age structure, where a declining number of births leads to a smaller young dependent population relative to the working-age population. This provides a window of opportunity for economic growth.
In 1960, over 40% of Thailand's population was under 15, with women averaging six children. Investments in health improved child survival, leading to a desire for smaller families and increased access to family planning. By the 1990s, women were having two children on average, transforming the age structure with fewer children and more working-age adults. Better education and increased employment accelerated economic growth, making Thailand an 'Asian miracle'.
Empowerment is one of the three key investment areas. It means all individuals have the rights and freedom to define their lives, pursue education, join the workforce, and accumulate wealth. This includes the right to decide when to marry and have children, allowing for a balance between family and work life. Empowered women, free from unintended pregnancies, enjoy better health, raise healthier children, and contribute to economic development as actors and entrepreneurs. Access to quality health services for young people is crucial.
Education is at the core of the demographic dividend, focusing on equipping people with skills and training for 21st-century jobs. Governments and the private sector must collaborate to strengthen educational quality and ensure that the skills taught match the demands of job growth.
Employment is the third key area. A welcoming political climate for industrial and business investment is essential, including reliable regulations, adequate power supply, and a skilled workforce. The focus is not just on the quantity of jobs, but also their quality; young people need access to decent jobs with fair wages and good working conditions. Women also deserve equal pay for equal work. Governments that empower, educate, and employ their population have a greater chance of achieving a demographic dividend, inclusive economic growth, and a desirable future.