Young Workers Give Southeast Asia an Edge

The so-called demographic dividend, the benefit derived from an increasing supply of young workers, is one reason Japan's second-largest shipbuilder expanded in the Philippines, where workers are on average half the age of its Japanese employees. Tsuneishi is considering Indonesia, the Philippi...

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Bibliographic Details
Published in:Bloomberg businessweek (Online) 2012-07, p.1
Main Authors: Yap, Karl Lester M, Ujikane, Keiko, Adam, Shamim
Format: Magazinearticle
Language:English
Subjects:
Demographics
Developing countries
Economic growth
Foreign investment
Labor supply
LDCs
Online Access:Get full text
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Summary:The so-called demographic dividend, the benefit derived from an increasing supply of young workers, is one reason Japan's second-largest shipbuilder expanded in the Philippines, where workers are on average half the age of its Japanese employees. Tsuneishi is considering Indonesia, the Philippines, and Myanmar for another shipyard, says Hitoshi Kono, chief of the company's local operation. Asia's manufacturing powerhouses -- Japan, South Korea, and China -- are among the fastest-aging countries in the world, while developing nations in Southeast Asia are among the youngest in the region. As factories, jobs, and investment flow south to tap younger and cheaper labor, economic growth in the 10-member Association of Southeast Asian Nations is poised to accelerate, propelling the area's currencies and fueling consumer and property booms, Bank of America says.
ISSN:0007-7135
2162-657X