Although the world population is reportedly aging, some countries have a larger population of young adults than older individuals. In this essay, I will argue that assessing whether this condition is advantageous is too complex to be simplified into a straightforward answer.
On the one hand, one advantage of a larger population of young adults is the potential for greater economic growth. Young adults today exhibit a stronger entrepreneurial and innovative drive than their older counterparts, as evidenced by their willingness to start businesses based on fresh ideas, compared to older generations who often prefer safer career paths, resulting in increased job creation and productivity. Another advantage is lower national costs. A younger population tends to correlate negatively with health issues, suggesting that healthcare costs will be lower in such countries, allowing for a larger budget in areas like housing that require direct attention when demand rises.
However, one disadvantage is the potential for higher crime rates. Youth is positively correlated with criminal tendencies and law-breaking, a phenomenon that can be particularly challenging in a large population of young people and can worsen if the job market fails to accommodate those who lack the drive to innovate or start their own businesses. Another disadvantage is their increased mobility. Young people are more likely to relocate from one city to another for career reasons and are less likely to become homeowners due to financial challenges, which can become substantially challenging in a large young population, as this can negatively impact property values and rents.
These discussions suggest that a younger population can be a boon to a country's economic growth and balanced budget distribution if governments succeed in harnessing this asset, thereby avoiding challenges such as higher crime rates and housing shortages. Therefore, whether a larger population can be an asset should depend on the authorities' ability to capitalize on the opportunity and find ways to address the associated problems.
