Malaysia’s relatively high population growth rate will see the country remain comparatively young over the next two decades but economic growth is not expected to keep pace with population expansion, according to a report by Bank of America Merril Lynch
Most developed countries experience lower population growth than developing countries and thus become older as they grow richer but China and Thailand however, are forecast to grow old before they can become rich with more than 15 per cent of the population aged above 65 years in the next 15-20 years.
The forecasts are part of an analysis by Bank of America Merrill Lynch on the impact of demographic trends on investment opportunities.
It also found that the population in Hong Kong, Korea, Singapore, Taiwan and Australia are growing old fast but they are expected to remain among the wealthiest in the world.
By 2015, Malaysia is forecast to have an elderly dependency ratio (EDR) — population aged above 64 divided by population aged between 15 and 64 — of 10 with a GDP per capita calculated on purchasing power parity (PPP) basis of US$20,000 (RM64,950). Current young and rich countries such as Australia, Singapore and the US have EDR’s of between 15 and 25 with a GDP per capita of between US$50,000 to US$70,000.
By 2030, Malaysia’s EDR is expected to be about 15 with a GDP per capita of about US$50,000 while Australia, Singapore and the US are expected to have an EDR of between 30 and 40 and per capita GDPs of US$110,000 and US$160,000.
The forecasts are part of an analysis by Bank of America Merrill Lynch on the impact of demographic trends on investment opportunities.
Source for more detailed information :
http://www.themalaysianinsider.com/malaysia/article/malaysia-forecast-to-be-young-and-poor-by-2030/
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