Demographics Drive ASEAN Growth
- The 2025 estimates are United Nations estimates at a constant fertility rate and constant mortality rate
- By 2025 80% of the ASEAN 5 (Indonesia, Malaysia, Philippines, Singapore, Thailand) population should be in the labor force
- ASEAN 5 to see an increase in the share of the population in the labor force, Europe and US a decrease to 60% in 2025 compared to 68% in 2015
- Larger share of the population in the labor force means more people contributing and fewer depending (children and elderly) on this group
- ASEAN 5 should see sustained growth from its “demographic dividend”, i.e. a higher proportion of the population being in the labor force
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