Population dividend requires youth investment

Nowadays, almost one quarter of the global population consists of young people in the 10 to 24 age group. Meanwhile, Bangladesh remains eighth with 47.6 million youngsters (30 per cent of its total population) whereas India is ranked highest and followed by China - the figures are 356 and 269 million respectively. As a matter of course, this age group will certainly inherit the upcoming leadership and their mode of investment will define our common future.
In the recent years, frequent calls for investments in young people have accrued speedy responses along with dramatic upturns in the rate of investments. The international community believes that any collective program or policy which nurtures the youth's intellectual potential can considerably drive economic development. Incredibly, the world is home to 1.8 billion youngsters (between the ages of 10 and 24) amidst a total population of 7.3 billion while most of these youngsters dwell in either middle-income countries or the least-developed countries. Before, such a colossal population of youngsters have never existed in the world. The dividend gives us an indication - socio-economic progress of the future depends on how we respond to the recent needs, demands and aspirations of today's youth.
The demographic transition refers to the demographic shift between high and low rates of both fertility and mortality that may result easy access to education and higher incomes, considerable improvement in healthcare and nutrition, and rapid reduction in the communicable and parasitic diseases. The demographic transition is the prerequisite of demographic dividend whereas the latter refers to a shift in population age structure, chiefly when the share of working-age population is longer than its non-working counterpart. In time of dividend, the mode of responses and investment generally define the common future of that nation.
Globally, the youths have been considered a dynamic force for socio-economic change in any country since they acted as vanguards for major revolutions in the past. The history of Bangladesh has been enlightened with the undeniable contributions of our glorious youth. However, their contemporary role is no longer the same and faces tremendous criticism from different segments of the society - if the youngsters of 1952 had fought for language, contemporary youngsters do it for the freedom of expression; if the militant youngsters of 1971 had struggled for liberation, today's youngsters do it for their subsistence and job; if the youngsters of 1990 had revolted for democracy, the existing youngsters do it to secure 'edibles'. In spite of many obstacles, numerous organisations are working in collaboration with Bangladeshi youth as they jointly uphold great mission and vision to prevent massive corruption, poverty, unemployment and drug abuse, and collectively advocate free education, efficient governance, egalitarian empowerment and a sustainable development. In 1978, Department of Youth Development was established under the Ministry of Youth and Sports in order to acknowledge and comprehend the efficacy of the collective role of youth in Bangladeshi society. Since 2000, United Nations annually celebrates August 12th as the International Youth Day to raise awareness on youth issues. Today, the 16th International Youth Day will be observed in all the member-countries of UN - with the theme of Youth Civic Engagement.
Every country gets a temporary opportunity for the rapid acceleration of economic growth and social development with a larger working population and fewer dependents. For any country, both positive and negative effects of "youth boom" largely depend on how the government of that country responds to develop their youth's inner potential. What is actually going on in Bangladesh? - According to a special report by The Economist, 47 per cent graduates of Bangladesh are currently unemployed! Despite controversies surrounding the report, the figure obviously predicts a catastrophic future. In Bangladesh, the private sector and corporate groups are jockeying with this vast unemployment, let alone investments. The uniformity between the job circulars of the private corporations and Public Service Commission (PSC) astound us. They have issued job circulars with obligations for high amount of bank draft, starting from Tk.300 to Tk.800. It is the primary duty of the government to generate employment for the youths after equipping them with possible training, despite the situation in Bangladesh not being same. Massive corruption in the public sector hinders the path of generating employment, while the policy of 56 per cent quota in public jobs boosts employment. Further, diversity in the education system is crippling the country along with the absence of a science-based methodology. Equally, lower wages and high unemployment figures motivate talented students from Bangladesh to go abroad in pursuit of higher studies and permanent settlement.
Due to youth boom, the opportunity for the acceleration of economic growth potential has started in Bangladesh and may continue till 2050. Nevertheless, it is undeniable that young minds lay the foundation for social prosperity either today or tomorrow. Perhaps, the post-2050 situation will be marked off by the larger non-economic group in Bangladesh, who are below 14 or over 65, and dependency will arise. Thus, it is a high time to receive supernumerary outcomes from the juvenile population, if equipped with the knowledge, skills and opportunities to take efficient measures. As far as this vast group is concerned, more investments and employment generations may spearhead unprecedented inclusive and sustainable development.
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