Bangladesh has the largest number of young people it has ever had, according to the most recent census, which provides compelling data. With about 28% of the population between the ages of 15 and 29, the nation is poised to take advantage of a rare chance for general growth and development, which is necessary for it to become a smart nation.
As it happens, a technologically advanced Bangladesh emphasizes empowerment and effective infrastructure to improve the lives of its people. Stated differently, it represents a nation with established infrastructure, effective services, and empowered citizens. A workforce proficient in contemporary technology and capable of critical analysis and problem-solving is needed to realize this ambition. Does Bangladesh have such a workforce, and if so, what steps have been done to cultivate it? We shall explore these queries in detail in the ensuing sections.
To begin with, let us consider a fact from the Labour Force Survey 2016-17: a staggering 79.7 percent of the unemployed population is young people, with 89.2 percent of youth employment in the informal sector. This paints a bleak picture of the country that is lacking in making the most of its youth as a valuable asset. Why is this happening? According to experts, the country's education system does not adequately meet the economy's needs, creating a gap in the supply and demand for skilled young people.
One may wonder why it is crucial to provide skill development and training to the young population to boost the country’s development. There are several reasons for this, as it can help Bangladesh reach its goal of becoming a smart country in numerous ways. First, it can contribute to building more productive human resources. A skilled work crew is better able to adapt to new technologies and meet the demands of the global economy. Second, upskilling youths can help reduce unemployment and poverty. This is because young people who have what it takes to succeed in the workforce are more likely to be employed and earn a decent living. Third, as young people are often at the forefront of new ideas and technologies, upskilling them means promoting social innovation and entrepreneurship.
As a matter of fact, the 2021 Global Data Market Opportunity Study reveals that Infrastructure as a Service (IaaS) is expected to experience the most rapid growth, with the Asia Pacific region projected to capture 80% of the total market share by the end of 2024. In this context, digital inclusion is poised to drive growth across various industries in the foreseeable future. This is especially true for Bangladesh, where it is believed that only a well-skilled youth workforce can play a pivotal role in securing a significant share of the market.
