Demographic dividend

Demographic dividend — the multi-decade growth window when a country’s working-age population is large and growing relative to dependents: more workers, more savers, more consumers per household. The Philippines entered its dividend phase around 2024 — median age ~25.7, working-age population growing to roughly 2045, middle class expanded from 29% to 40% of the population (1991→2021). It is the base layer under every row of the 5.7 watchlist: the tailwind most developed markets would trade their bond markets to have back.

First used in: 5.7 · Emerging-market pattern arbitrage: the payoff skill