Progress and Challenges in Bangladesh’s Demographic Strategy
Bangladesh is often highlighted by Western countries as a success story in managing high population growth, particularly in contrast to regions like Africa. The country has made significant strides, reducing the fertility rate from about seven births per woman 50 years ago to 2.1%, aligning closely with the European average. Despite these achievements, Bangladesh still faces challenges in reaching its target total fertility rate (TFR) of 1.7, with recent statistics indicating a slight increase to 2.15 in 2022.
Economic Implications of Demographic Changes
Bangladesh’s demographic scenario presents a complex but potentially advantageous situation. While the nation contends with higher birth and fertility levels, which could strain resources, these trends also contribute to a burgeoning working-age population. This demographic dynamic offers a potential dividend as it increases the proportion of economically active individuals, providing a critical window to enhance economic growth, provided there is substantial investment in health, education, and infrastructure.
Preparing for an Aging Society
Concurrently, Bangladesh is experiencing a rapid increase in its aging population, projected to constitute over 22% of the populace by 2061. This shift towards an older society necessitates comprehensive planning to ensure sustainable economic and social systems. The challenge lies in balancing the nurturing of a young, productive workforce with the development of robust support systems for the elderly, including healthcare, social security, and community-based services. The upcoming decades are crucial for Bangladesh to leverage its demographic changes effectively, ensuring that today’s younger population can thrive now and support an aging society in the future.