WORLD DEVELOPMENT REPORT, 2007
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DEVELOPMENT AND THE NEXT GENERATION
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PRESENTATION---------------------------------------------------------
Developing countries which invest in better education, healthcare, and job
training for their record numbers of young people between the ages of 12
and 24 years of age, could produce surging economic growth and sharply
reduced poverty, according to a new World Bank report launched at the
Bank's Annual Meetings in Singapore.
With 1.3 billion young people now living in the developing world-the
largest-ever youth group in history-the report says there has never been a
better time to invest in youth because they are healthier and better
educated than previous generations, and they will join the workforce with
fewer dependents because of changing demographics.
However, failure to seize this opportunity to train them more effectively
for the workplace, and to be active citizens, could lead to widespread
disillusionment and social tensions.
"Such large numbers of young people living in developing countries present
great opportunities, but also risks," says Fran�ois Bourguignon, the World
Bank's Chief Economist and Senior Vice President for Development
"The opportunities are great, as many countries will have a larger, more
skilled labor force and fewer dependents. But these young people must be
well-prepared in order to create and find good jobs."
The report says that young people make up nearly half of the ranks of the
world's unemployed, and, for example, that the Middle East and North
Africa region alone must create 100 million jobs by 2020 in order to
stabilize its employment situation. Moreover, surveys of young people in
East Asia and Eastern Europe and Central Asia-carried out as research for
the report-indicate that access to jobs, along with physical security, is
their biggest concern.
Far too many young people--some 130 million 15-24
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