The demographic dividend has become a rallying call around the world.
It is increasingly recognized by national governments and the international community as a key pathway for countries to realize rapid economic growth and long-term sustainable development.
President Barack Obama, in his recent address to the African Union, spotlighted how growing youthful populations, if trained, can help countries, regions and continents grow faster -- "It's a demographic edge and advantage".
Indian Prime Minister Narendra Modi identifies the demographic dividend as his country's biggest strength and economic advantage and prioritizes skills development of its large working-age population over this and the next decade.
As sub-Saharan Africa outlines its vision for an integrated, prosperous and peaceful Africa by 2063, many of its leaders are focused on empowering a healthy, educated and skilled population so its nations reap the economic and social gains of the dividend.
Estimates show a potential to add up to U.S. $500 billion per year to African economies for as many as 30 years - the equivalent of one-third of Africa's GDP.
Executive chairman of Google Eric Schmidt reinforces this message in his statement that "the demographic dividend in Africa of young people is their greatest hope".
Next week world leaders convene at the United Nations to adopt formally a new global agenda to end poverty, promote prosperity and people's well-being, while protecting the environment, by 2030. For the first time ever in UN history, a political declaration will specifically call on world leaders to invest in the full realization of the rights and capabilities of children and young people.
As we move towards a new universal, transformative and integrated agenda, it is important that the world community recognizes the role that young people can play in solving major challenges of development.
Indeed, the window is now open for many young economies of Africa and Asia to accelerate economic growth as large cohorts of young people reach working age, represent a larger proportion of working age people, with lower fertility and fewer dependants, than before.
Yet this hope and optimism must be tempered by the sober reality that young people need tangible investments to transform the economy. The world is failing far too many young people, especially - but not only - in developing countries.
A look at key population data across sectors gives a glimpse of just how far off we are in meeting the rights and needs of young people.
Starting with health -- the fragilities of health systems put the well-being and stability of future generations at risk. For otherwise healthy young people the greatest need is often for sexual and reproductive health care, and the preventive services needed to avoid an unwanted pregnancy, an STD such as HIV, or delivering a pregnancy without medical care. Even healthy early childbearing removes young women from school, and limits their lifetime earnings.
In high fertility countries, lack of access to family planning and health services is pushing off - by decades - the decline in fertility that enables a demographic dividend. And without educated women in the labor force, prospects for accelerating economic growth will not be fulfilled.
Consider education outcomes. While there have indeed been significant gains in primary school enrolment globally, inequalities in educational achievements persist, leading to important debates about the relative merits of online courses, investments-per-student and classroom culture. Fewer than one-third of girls are even enrolled in secondary school in west and central Africa.
As we talk about the returns young workers can bring to the economy, young workers have seen the weakest restoration of job opportunities since the economic downturn of 2008. In many countries looking towards a demographic dividend, informal and vulnerable employment remains as high as 70 percent, and is especially high for young people. Interviews with young migrants into Europe in the past month have detailed the desperate economic conditions for many youth in areas of conflict and underdevelopment.
To reap the social and economic benefits of the dividend, we need to confront the challenges before us. National governments need to ensure timely public policies and investments are in place -- particularly ones that empower, educate and employ the rapidly-growing, young working-age populations. Depending on the gaps and needs within individual countries, key investments can address sexual and reproductive rights, access to family planning, better health systems and quality education, on-the-job mentoring and a welcoming climate for business.
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The silver lining is that a growing number of governments and the international community recognize the potential a demographic dividend can provide - what it can do for the bottom line and the bottom billion - and are increasingly ready to act on the basis of that optimism.
This agenda offers a unifying framework for integrating mutually reinforcing policies, investments and programmes. It's a key pathway for countries to realize rapid economic growth and long-term sustainable development. And the UN Summit offers a platform for the international community to commit with national governments to accelerate the dividend and empower young people so they bring about the world they want.
Dr. Babatunde Osotimehin is Under Secretary General of the United Nations and Chair of the Global Agenda Council on Demographic Dividend, World Economic Forum.
