World Development Report 2007

Abstract

The time has never been better to invest in young people living in developing countries—that is the message of this year’s World Development Report, the twenty-ninth in the series. The number of people worldwide aged 12–24 years has reached 1.3 billion, the largest in history. It is also the healthiest and best educated—a strong base to build on in a world that demands more than basic skills. Today’s youth are tomorrow’s workers, entrepreneurs, parents, active citizens, and, indeed, leaders. And, because of falling fertility, they will have fewer children than their parents as they move through adulthood. This in turn may boost growth—by raising the share of the population that is working and by boosting household savings. Rich and poor countries alike need to seize this opportunity before the aging of societies closes it. Doing so will enable them to grow faster and reduce poverty even further.