Financial news: What happens when most countries have fewer babies?
No one to buy goods and services!
If I am a milk powder producer and I produce only baby milk powders, I should be worried about my future maybe 50 years from now? There are definitely enough time to transform into producing milk powder for the seniors too. The number of new babies are declining throughout the world. There are many reasons but I think the biggest factor would be that people have so many distractions in the world today versus just going home early everyday and lights off by 930pm daily. People are working longer hours. Couples want more time for themselves. Cost of living is increasing especially the cost of raising kids. Travelling is also far easier when alone or as a couple versus as a family of 3 or 4.
What’s ‘down’ with the world in birth dates?
The keyword here is dropping. The measurement is just by how much it is dropping. Before we go will the population of the world be shrinking then? The answer is no.
“The current birth rate for Africa in 2023 is 31.599 births per 1000 people, a 1.27% decline from 2022. The birth rate for Africa in 2022 was 32.005 births per 1000 people, a 1.25% decline from 2021. The birth rate for Africa in 2021 was 32.411 births per 1000 people, a 1.23% decline from 2020.” Source: mcarotrends.net
Meanwhile this is Malaysia’s number
In 1950, our birth rate was 49.47 per 1,000. Briefly, this meant that new babies are fueling the population growth for the country. In 1990, this has dropped to 27.89 per 1,000 population. Briefly, we are still growing! In 2021, this is down to just 15.24 per 1,000 population. Briefly, our population number would be on a declining trend in the future. First sign would always be the fact the median age will start to rise, number of seniors are more than babies and the supermarket aisles start to be packed with products for the seniors versus for babies.
What about neighbours?
Thailand’s birth rate is even lower than ours. Meanwhile Vietnam is very similar to ours. Meanwhile US and UK is already having birth rates which are too low and may have to think proactively on how to attract talents to go there and work, maybe. This is why sometimes, we can see some policies which would favour certain professionals and make it easier for these professionals to go there and work and then settle down too.
Happy getting to know. Have more babies yeah. Haha.
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