“When we say that the youth is the future of a country, for the Philippines, it is more than just a moderate statement. It is reality. Because, just to remind you of statistics, those [who] are below 25 constitute 50% of our population, and those of you who are below 30 constitute 65% of the population. There’s no question that the majority of Filipinos are young. And even more, those of you who are below 30, and especially those of you below 25, can expect to live another 40 to 50 years, at least, in your generation.
[That] is why the topic of our conversation is very relevant. Especially since today we are going through very difficult times [.]
Beyond 2022, the Philippines will be growing at one of the fastest rates not only in the pacific region, but in the whole world. We can grow at anywhere from 8-10% GDP-wise in the next five to ten years, bringing us from the category of low middle-income status to higher middle-income status in the next 10 to 15 years. And [young people] are going to be the main participants.”
In a recent CRC event focused on young people’s leadership in the future of key Philippine economic sectors, Dr. Bernardo M. Villegas explained why the country’s young people are, empirically speaking, one of the big reasons the Philippines can look forward to sustained economic growth in the long term, even if the COVID-19 lockdowns have taken a toll on the Philippine economy in the short term.
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