International Business

1-27 Case Question

Demography is the study of the structure of human population which includes the size of the population, the composition

of the population’s age, the gender mix as well as the population growth. The following is a summary obtained from the Census

Bureau’s International Database “United States Census Bureau” providing analysis of two countries. The results of the analysis

will provide a summation of the country that faces a more favorable demographic future.

The data provided for Iceland shows an increased population over the next twenty years with a stabilized average life

expectancy. The old-age dependency ration shows a decline over the next twenty years meaning that there should be more

burdens imposed on the twenty to sixty-four age groups to support the retired and elderly. Iceland’s economy is supported by the

high production of electricity and the fishing industry “Icelandic”. While some economies are concerned about turnover of

retirees and the loss of knowledge, Iceland has a strong workforce in this industry and continues to support technological

advancements.

The Census Bureau provided that Belgium, a world leading Finished Metals provider “Belgium- Industry”, shows an

overall increase in population over the next twenty years. The typical life expectancy will not increase over the next twenty years

which could have an impact on the economy if the life expectancy were to increase. Data provided by the Census Bureau

International Database shows that the old-age dependency ration will decrease over the next twenty years which will increase the

burden on the younger (20-64) age workforce to provide more support for retired and graying (65+) populations. Belgium’s

economy relies heavily on the production and exporting of iron and steel plus other metals. This industry is not prone to losing

extensive knowledge as the elderly workforce retires.

If one were to compare these countries to determine which one faces a more favorable demographic future, you would

find that both countries will have a decrease in old-age dependency ratio, which indicates that the working population will have a

higher burden to care for the retired and aging. However, the data provided by the Census Bureau indicates that the burden will

be less in Belgium over the next twenty years. Therefore, Belgium, as compared to Iceland, faces a more favorable demographic

future.

Works Cited

"United States Census Bureau." International Programs. Web. 28 Aug. 2015.

"Icelandic - Seafood, Food, Marine, Agricultural and Food - Manufacturing, Products - From, in Iceland." Icelandic - Seafood, Food, Marine,

Agricultural and Food - Manufacturing, Products - From, in Iceland. Web. 28 Aug. 2015.

"Belgium - Industry." Industry. Web. 28 Aug. 2015.