Bangladesh has been experiencing relatively steady economic growth, averaging 6.0 per cent annually over the past decades. This growth has been overly reliant on the country's demographic dividend, which is defined as the temporary boost to productivity and savings potential that occurs when a large share of the population is of working age compared to dependants. With Bangladesh boasting a burgeoning young workforce, the increase in the working-age population has propelled domestic consumption and labour supply for the export sector.
However, other sources of economic growth remain hindered by systemic inefficiencies in policies, governance, and industries. Job creation has failed to keep pace with population growth, and health and education outcomes are subpar.
Now that the great youth revolution has brought about a seismic shift in Bangladesh's power dynamics, it is hoped that the country's vast pool of youth energy will be better utilised. There is an urgent need for holistic development to nurture this demographic advantage.
Abdullah Al Farabi
Student
Department of Accounting and Finance
North South University
abdullah.farabi@northsouth.edu