Demographic and Economic Factors Influencing the Future of the Global Economy

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Key Demographic and Economic Factors Influencing the Future of the Global Economy Globalisation can be defined as the shift towards a more integrated and interdependent world economy (Economic Globalisation). Trend towards greater interdependence among national institutions and economies. Demographic factors have a greater influence on the economy; it decides the economic wellbeing or the failure of a particular country. It’s a study of a population based on factors such as age, race, sex, economic status, level of education, income level, migration patterns, cultural backgrounds, family structures, diaspora, values and ethics, believes, religious influences and employment. Demographics are used by governments, corporations and non-government organizations to learn more about a population's characteristics for many purposes, including policy development and economic market research. Segmenting a population into demographics allows companies to assess the size of a potential market and also to see whether its products and services are reaching that company's most important consumers. Age All these factors related to demographic factors discuss about the characteristics of a particular group of people which will influence the economy of them. Aging population has become one of the key factor as well as a challenge in most countries. Underlying global population ageing is a process known as the “demographic transition” in which mortality and then fertility decline from higher to lower levels. Decreasing fertility along with lengthening life expectancy has reshaped the age structure of the population in most regions of the planet by shifting relative weight from younger to older groups. (Lesthaeghe, 2000). Fertility decline has been the primary determinant of population ageing. Over the last half century, the total fertility rate decreased globally by almost

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