Victor Tay discussed how Asia is adapting business practices to changing demographics. [1] Asia accounts for 60% of the world's population and is experiencing the fastest population growth and urbanization. [2] Asian economies are becoming an increasingly large share of global GDP as countries specialize their workforces in different industries. [3] Increasing life expectancies mean workers will postpone retirement, while a surging middle class will impact wealth creation and wage increases. Adapting to trends like an aging population and the "silver economy" will be important for business competitiveness in Asia.

1. Asia Workforce – Adapting Business Practice
to Changing Demographics in Asia
Victor Tay
Chief Operating Officer
Singapore Business Federation
@ NTUC Building
Nov 2011

2. Asia: the most populous continent
60% of world population is in Asia
2

3. Asia Pacific - fastest growing population and urbanization…
Source: Compiled from United Nations, World Urbanization Prospects:, United Nations, New York.
Table 1: Urban Population Trends in Selected Countries of South East Asia 1980-2020
Country Urban population as a percentage of total population Percentage change in urban population territory
Total
Population 1980 1990 2000 2010
1980 1990 2000 2010 2020
1990 1990 2000 2010 2020
(million)
Malaysia 15 34.6 43.0 51.2 58.4 64.8 +11.6 +18.2 +7.2 +6.4
Myanmar 42 24.0 24.8 28.4 35.4 43.3 +0.8 +3.6 +7.1 +7.9
Philippines 62 37.4 42.7 48.9 55.7 62.5 +5.3 +6.2 +6.8 +6.2
Singapore 3 100.0 100.0 100.0 100.00 100.0 0.0 0.0 0.0 0.0
Thailand 55 17.1 22.2 28.9 36.7 44.7 +5.1 +6.7 +7.8 +8.0
Vietnam 67 19.2 19.9 22.3 27.4 35.1 +0.7 +2.4 +5.1 +7.7

4. Asia Economy: Share of Global GDP Creation
4

5. Asia Economy: Business Competitiveness vs GDP per capita
5

6. Asia Economy: Employment Specialization in Asia
6

7. Inevitable Trends: The Silver Economy
Older, Richer, Health and Wellness

8. Population Census: Reflection of Workforce Composition
8

9. Asia Workforce: Life Expectancy Increase will mean Postponed Retirement
9

10. Middle Class Surge: Wealth Creation or Wage Increase
Middle Class Surge