PHNOM PENH: A big concern lurking in the background of ASEAN’s economic prosperity, besides climate change, is declining birth and fertility rates that could disturb its growth prospects.
As fewer babies are being born in Southeast Asia due to changing lifestyles and urbanisation, it could be a real crunch on economic productivity.
While it is a populous region with about 670 million people, Southeast Asian governments need to address the demographic shift to an ageing population and declining birth rates, say experts.
According to the ASEAN Key Figures 2023 report, ASEAN is the third-most populous region in the world, following India and China.
ASEAN Briefing’s Deputy Editor, Ayman Falak Medina, says climate change and declining birth rates are concerns for the region’s growth prospect.
“Although climate change will pose a challenge for ASEAN, I believe a bigger challenge will be tackling the declining birth and fertility rates, as this will impact overall productivity and thus the ability of each country to fight climate change.
“Singapore, Thailand, Vietnam, and Malaysia are all experiencing demographic shifts due to ageing populations,” he told Bernama in an email interview.
Population decline can impact economic growth and social development, labour scarcity and shrinking youth population while others argue that slowing population growth has its positives.
By 2030, one in four Singaporeans will be 65 or older, while Thailand expects 25 per cent of its population to reach this age by 2040. Vietnam is on a similar trajectory, with nearly 30 per cent of its population projected to be 60 or older by 2050.
“Malaysia’s ageing is more gradual, with 14.5 per cent of its population expected to be 65 or above by 2040. Indonesia, Brunei, Cambodia, Myanmar, and Laos are preparing for ageing populations,” he said. – BERNAMA
