1 October 2024 02:38 pm Views - 11
By Nuzla Rizkiya
Population dynamics are strongly linked to sustainable development as it has a great influence in economic productivity, social progress and environment preservation. When aiming towards sustainable development, it is important to improve human well-being and quality of life mainly through higher levels of production and consumption. However, if economic growth is not monitored natural resources could get strained leading to unsustainable consumption patterns that deplete essential assets such as water, land and forests. Even in Sri Lanka development efforts should be strongly aligned with environmental sustainability through innovative approaches that capitalize on the country's demographic shifts.
Sri Lanka as a small island faces unique challenges due to its aging population and the pressures of maintaining a shrinking workforce. On a positive note, these shifts also present opportunities to utilize the potential of both elders and children in driving sustainable growth. By investing in human capital, promoting lifelong learning and enhancing social protection systems, Sri Lanka too can build a resilient economy that supports its population across all stages of life.
As Sri Lanka's population ages, the economic implications of this demographic shift become more highlighted. By 2041, it is projected that one in four Sri Lankans will be over the age of 60. The growing demand for healthcare, social protection and long-term care for the elderly presents significant challenges but it will also open doors towards adopting a ‘silver economy’—the economic activity driven by the needs and spending power of older adults.
Many senior citizens in Sri Lanka continue to participate in the labour force beyond the age of 60. Encouraging this trend by promoting flexible work arrangements, part-time employment and remote work options for senior adults can help mitigate the impacts of a shrinking workforce. With the right policies in place, Sri Lanka can extend the working life of its elderly population to maintain productivity while also facilitating intergenerational collaboration in the workplace.
Therefore, investments in lifelong learning and retraining programs for senior adults is a good method to make sure they remain active contributors to the economy. As technology evolves elders can be equipped with the digital literacy skills required to navigate a modern economy. This will not only enhance their productivity but also encourage social inclusion.
But along with the demographic shift, the demand for care services is also projected to rise. Though this is often perceived as an added expense, the trends actually present a dual opportunity for both economic growth and social progress. The expansion of the care economy which includes caregiving roles for older adults and children can create jobs and improve overall social well-being. Moreover, by formalizing caregiving roles and incentivizing caregivers to be adequately compensated and supported, Sri Lanka can create new employment opportunities, particularly for women, who are disproportionately involved in caregiving tasks.
Additionally, investing in geriatric care facilities and training healthcare workers in elderly care can help meet the growing demand for long-term care. This not only enhances the quality of life for older adults but also contributes to the achievement of the UN’s Sustainable Development Goal (SDG) 3 which aims to ensure healthy lives and promote well-being for all.
While Sri Lanka's aging population presents challenges, the younger generation offers immense potential for driving sustainable development. However, to fully realize this potential, the country must address key issues such as the high youth unemployment rates and gender disparities in labour force participation.
Foremostly it is important to understand that a well-educated and skilled youth population is the backbone of any sustainable economy. Therefore, facilitating the improved access to quality education, particularly in science, technology, engineering and mathematics (STEM) fields will equip young Sri Lankans with the skills needed to thrive in a rapidly changing global economy. The government must also prioritize vocational training and training programs to bridge the gap between education and employment to reduce youth unemployment.
Moreover, gender disparities in education and employment must also be addressed. Although women in Sri Lanka achieve high educational outcomes, their participation in the labour force remains low with only 32% of women actively engaged in the workforce. Encouraging greater female participation in the economy, particularly in leadership roles and STEM fields will be essential to achieving SDG 5 on gender equality.
It is apparent to know that the youth are not only the future of Sri Lanka’s workforce but also key agents of change in promoting environmental sustainability. Therefore, engaging young people in climate action, renewable energy initiatives and sustainable agriculture practices can help mitigate the environmental impacts of economic growth. Through education and empowerment, the younger generation can drive innovative solutions to some of Sri Lanka's most pressing environmental challenges such as deforestation, biodiversity loss and climate change.
Programs that promote environmental stewardship among children and youth such as school-based environmental clubs or community-led conservation initiatives can also facilitate a culture of sustainability that extends across generations.