Youth and their changing economic roles in Asia

The youth population of Asia is in the midst of a remarkable transformation with enormous implications for the future of the region. Rapid population growth of the youth population is beginning to ease and to decline in China and other low fertility Asian countries. An increase in spending on human capital has accompanied the decline in fertility rates, however, so that incoming cohorts of youth will be smaller but much more educated than in the past. The rise in education and other factors have influenced the transition into adulthood for youth. They are staying longer in school and entering the labour force at a later age supported by a combination of public and private transfers. A willingness to invest in youth has been an essential element to realizing the benefits of the demographic dividend in Asia.