Overview of The Demographic Situation in Mexico
- According to Worldometer’s elaboration of the most recent United Nations data, Mexico’s population as of Thursday, March 16, 2023, is 132,583,752.
- The population of Mexico makes up 1.65% of the entire world’s population.
- According to population, Mexico is the tenth most populous country (including dependent territory).
- In Mexico, there are 66 persons per square kilometer (172 people per mi2).
- the population is urban in 83.8% (108,074,410 people in 2020)
- In Mexico, the average age is 29.2 years.
Aging Population Causes Problems
- The aging of the population in Mexico is one of the most important demographic phenomena. Mexico, like many other nations throughout the world, is going through a demographic shift as the population ages and the birth rate drops. Mexico’s population was forecast to be about 12% older than 65 in 2021 This number is projected to rise in the years to come.
- Mexico faces a number of economic issues because of its aging population. Its impact on the nation’s healthcare system is one of the most profound. People are more likely to require medical attention as they get older. This can be expensive for both individuals and the government. The aging population in Mexico will probably make the country’s healthcare system’s existing problems worse.
Opportunities For The Economy
- But, Mexico’s aging population also offers business prospects. The higher disposable income that older individuals often have can boost consumer spending and promote economic expansion. Also, as the population ages, there will be more demand for enterprises that serve senior citizens, including healthcare facilities, retirement complexes, and other senior-focused services.
- The rise of the middle class in Mexico is an important demographic trend. More people have entered the middle class as a result of the recent economic expansion. This has important ramifications for the growth of the nation’s economy. Consumer spending, which can boost economic growth and open up new business prospects, is frequently driven by the middle class.
- The expanding middle class, however, also poses difficulties for Mexico’s economy. The greatest difficulty is income disparity. Even while the middle class has been expanding, there are still wide variations in wealth and income across the nation. If too many people are left behind, it may limit the possibility of continued economic progress. This will lead to social and political unrest.
Finally, it is important to remember that migration also affects the demographic patterns of Mexico. Mexico has historically been a major supplier of immigrants to the US, although migration trends have changed recently. The number of immigrants from other nations, particularly Central America, has increased while the number of Mexicans traveling to the United States has decreased. The economy of Mexico will be significantly impacted by this, especially in terms of the work force and social services.
In conclusion, the country of Mexico’s demographic development is a complicated and diverse subject with important ramifications for its economic growth. While both opportunities and problems are presented by an aging population and a growing middle class, it is obvious that tackling these demographic trends will be essential for Mexico’s long-term economic success. Mexico can set itself up for long-term economic growth by making investments in social services like healthcare, education, and other social programs, as well as in companies that serve the middle class and senior citizens.