The world population is increasing and recently hit a new milestone: eight billion people. This number reflects massive growth and a wealth of advancements, whether they be technological, medical, or infrastructural. As the population continues to increase, it is important to understand the implications of a growing world.
Currently, the global growth rate is 0.83% per year. Some countries grow faster than others, and there are even different growth rates within countries based on fertility rates and migration rates. For example, the United States has a growth rate of 0.5%, a fertility rate of 1.66, and a migration rate of 2.784.
Part of the reason behind our growing world is increased life expectancy. In 1800, the global life expectancy was 29 years; today, it is 73. Once again, life expectancy varies between countries, but it is rising on the whole, allowing larger populations as more people reach their elderly years.
A ballooning population influences all aspects of society. When it comes to business, the growing population will lead to productivity increases, the establishment of more multinational corporations, and a GDP shift to Sub-Saharan Africa. However, there are negatives as well; the global GDP growth is slowing and labor shortages may be on the rise. Population growth is not purely good nor purely bad, making it important to study and understand.
Where is our population headed? The UN predicts that the population will hit a maximum of 10.4 billion people in 2080. We will likely reach nine billion people in the next 15 years. As we near nine billion people, Africa will become the fastest-growing continent, while Europe will see population declines. International migration will increase across the board.
If there’s one thing that our growing world teaches us, it’s that change is ever-present. Our world will not look the same with nine billion people as it does with eight. New possibilities will present themselves, while new challenges arise, putting society to the test. No matter what, it is useful to think critically about what a growing population means so we can adapt as we hit new milestones in the future.