Philippines’ fertility decline heading for a demographic shift, can influence the global economy

The Philippines is preparing for a significant demographic shift, aiming to reduce its birth rate and align itself with the economic success stories of its neighboring Asian countries.

In a strategic move with far-reaching implications, the Philippines is preparing for a significant demographic shift, aiming to reduce its birth rate and align itself with the economic success stories of its neighbouring Asian countries. As a country whose workforce plays a pivotal role in sustaining essential sectors of the global economy, this decision could ripple through industries from healthcare to shipping, affecting regions as diverse as London and Los Angeles.

Despite being a relatively young nation, the Philippines has set its sights on fostering smaller families as a pathway to prosperity. The move is strengthened by the belief that controlled population growth will pave the way for increased economic development, placing the country alongside the likes of Singapore and Malaysia in the pantheon of Asian success stories.

The impact of this decision will reverberate globally, given the significant presence of Filipino workers in various sectors worldwide. Worries about a baby drought and silver tsunami of many old people are tomorrow’s problems and they are for societies that have already grown rich.

Remy Cabello, a family planning volunteer raised two children but has a dozen siblings. Cabello exclaimed that people were becoming more knowledgeable. Cabello asserted that with smaller families they could budget their money, they could give a better education to their kids, and give sufficient financial support and nutrition. They were taking care not just of their kids but of their lives.

The motivation behind the Philippines’ push for a smaller population lies in its desire to emulate the economic success achieved by neighbouring nations that have strategically managed their demographics. By reducing family sizes, the government aims to increase educational and employment opportunities, ultimately boosting the overall quality of life for its citizens of the Philippines.

The main characteristics of an economic take-off that is currently enjoyed by South Korea, Singapore, Taiwan, Hong Kong, and mainland China are consistent and pronounced reductions in the size of families. The primary idea of the government is to use the window to make the jump to industrialization and an equipped workforce for a modern economy.

For the Philippines, it’s a concept full of opportunities and challenges as well. Meanwhile, in a global labour market, it is a slow-burning challenge. People from the Philippines play critical and often underappreciated roles in social and economic sectors, far away from home. The healthcare systems of the US and Europe mostly rely on nurses from the Philippines. People from the Philippines also supply about a quarter of the seafarers to keep the container vessels on the seas.

In a world interconnected by economic ties and labour mobility, the Philippines’ pursuit of a demographic transformation serves as a compelling case study. The success of this endeavour could not only redefine the nation’s trajectory but also influence discussions on the intersection of demographics, economic development, and global workforce dynamics. The Philippines still has a long way to go before it becomes an aged society. Meanwhile, there is always a danger of overcorrection and being left with a shortage of labour of its own.