24 September 2012
When it comes to birthrates and its influence on the national economy, Southern Europe is in quite a desperate situation. Germany, in its turn, succeeds in overcoming the aging issue due to massive automating in manufacturingand large exports.
Mexico, Venezuela and Kazakhstan show the right population proportions for supporting the economic growth, while Nigeria is facing a demographic crisis with significant youth unemployment hike.
Japan is not the only one Asian country who is experiencing problems with aging population, the so-called one-child policy in China has already decreased the pool of young people.
In the same time, India’s in the middle of a real demographics disaster, as the unemployment level affects the political instability.
Canada also has problem to solve – the rapid aging, which exists even despite the annual 250,000 immigrants. This tendency may slow the national economic growth. David Foot said that by 2026 “there will be more old people than young in Canada and even large number of immigrants can’t change it.”
For example, the peak of university and college enrolments in Canada was reported in 2011, and it will go down in the future. That’s why encouraging foreign students flow (in other words, potential immigrants) is among the main issues considered by the Immigration Minister Jason Kenney.
Here is important to add that immigration is working perfectly for housing market since immigrants of today are much richer than immigrants of yesterday. Many of new Canadians are coming here with enough money to settle and buy a home. As long as immigration flow will be steady major canters like Toronto, Vancouver and Montreal will see healthy housing demand which will help to offset any internal slowdowns.