First of all, we have a working age population, but they should receive good education. Secondly, their good health should be ensured. Third, there is a need for investment in the financial sector which can generate employment. Fourth, good governance must be ensured.
If there is a favorable environment for all this to be implemented, the working age population can be ushered into the third stage of the demographic transition model where birth and death rates decline and the age structure changes. A country will be able to reap the benefits of demographic dividend if favorable age structure of population, quality education, productive and skilled workforce, economic policies and investment in employment opportunities and good governance work in a well-coordinated manner.
The latest (2022 edition) demographic projection of the United Nations Population Division indicates that Bangladesh will be able to enjoy the first demographic dividend by 2033. After that, the size of the dependent population will increase, especially the elderly population. The time when the benefits will completely stop will be around the year 2049.
Various studies analyzing projected projections indicate that this time will end even earlier. But Bangladesh should now focus on seriously dealing with this first demographic dividend. Also, policies and strategies will have to be made for the second demographic dividend as the number of elderly people will increase and the youth population will decrease.
There should be plans to ensure how elderly people can be accessed in a timely manner, how to keep them healthy and active, and what advanced technologies they can be exposed to so that they remain proficient, and How to make profit from them. Savings and investment. But for now the main focus is on achieving Bangladesh's first demographic dividend. This opportunity will not come again. It comes only once to a nation.