Exploring the Impact of 8 Billion People
On November 15th, 2022, the world population reached 8 billion people. This significant milestone highlights the ongoing trend of population growth, with an increase of 0.83% per year. This growth is not evenly distributed among countries; some countries are experiencing population loss, while others are seeing significant population increases.
When looking at the world's most populous continents, we can see that Africa, Asia, and South America have the highest population numbers. In Africa, Nigeria and Ethiopia have the highest population, with 219 million and 123 million respectively. In South America, Brazil has the highest population with 215 million people. The world’s most populous continent, Asia, is led by China and India, with 1.426 billion and 1.417 billion people respectively.
As the world population grows, so does the global life expectancy. Since 1800, life expectancy has grown from 29 years to 73 years. This increase in life expectancy is closely linked to the decrease in fertility rates. As a country's overall health improves, life expectancy increases and fertility rates decrease. For example, countries like Nigeria and Pakistan have higher population growth rates and higher fertility rates compared to countries like China and Russia which have little or negative population growth.
The correlation between a country's overall health, its life expectancy, and its fertility rate is strong. The healthiest countries in the world, like Spain, Italy, Iceland, Japan, and Switzerland have the longest life expectancy and the lowest fertility rates. On the other hand, the unhealthiest countries in the world, like Sierra Leone, Somalia, Chad, Central African Republic, and South Sudan have the lowest life expectancy and the highest fertility rates.
The increasing population has affected businesses in a number of ways. Global GDP growth has slowed, and the current population is projected to push the global GDP by just 9.6%. Additionally, potential labor shortages are a concern. By 2030, surpluses are set to become shortfalls, risking $10 trillion in lost economic output. This population growth will have a significant impact on the future and will require strategic planning to ensure sustainable development and stability.
The road to 9 billion may pan out slightly differently than previous generations. Sub-Saharan Africa is expected to double its population by 2050. Europe’s population will be on the decline, especially in Eastern Europe; it is projected to decline by 15%. There will be some major shifts in population distribution, and the world will have to react accordingly.
