Singapore’s total fertility rate falls to historic low in 2023
Summary
TLDRThe script addresses Singapore's declining total fertility rate (TFR), which has fallen to 0.97 in 2023, the first time below 1. It highlights the impact of fewer marriages and births, with societal and global factors contributing to the trend. The implications include smaller families, increased caregiving responsibilities, and a growing number of singles with weaker support networks. Economically, a shrinking workforce could lead to a less dynamic economy, challenges in attracting businesses, and fewer opportunities for the next generation, mirroring issues faced by countries like South Korea and Italy. The government is committed to tackling these demographic and economic challenges.
Takeaways
- 💒 Last year, there were 26,500 resident marriages in Singapore.
- 👶 30,500 resident births were welcomed in the same year.
- 📉 The number of resident marriages and births has decreased annually on average over the last 5 years compared to the previous period.
- 📊 The resident Total Fertility Rate (TFR) has continued to decline, reaching a preliminary estimate of 0.97 in 2023, the first time it has fallen below 1.
- 😷 COVID-19 has disrupted marriage plans for some couples, potentially delaying parenthood.
- 💰 Concerns about the financial costs of raising children, pressures to be an excellent parent, and difficulties managing work-life balance contribute to low fertility rates.
- 🌐 Low fertility in Singapore is part of a global phenomenon where individual priorities and societal norms have shifted.
- 👨👩👧👦 Families are smaller with more single-person households, leading to weaker familial support networks for the elderly.
- 💼 A falling TFR impacts the economy by creating a smaller workforce, affecting the country's dynamism and ability to attract global businesses.
- 🚀 The shrinking workforce poses challenges for maintaining economic growth and creating opportunities for the next generation.
- 🌍 Countries like South Korea and Italy are experiencing economic slowdowns and declining wages, partly due to low fertility and demographic changes.
Q & A
What is the core vision for the population mentioned in the transcript?
-The core vision for the population is strong and stable families.
How many resident marriages were there last year according to the transcript?
-There were 26,500 resident marriages last year.
What was the number of resident births welcomed last year?
-There were 30,500 resident births welcomed last year.
Has there been a change in the number of resident marriages and births over the past decade?
-Yes, there were fewer resident marriages and births annually on average over the last 5 years compared to the preceding 5-year period.
What is the current Resident Total Fertility Rate (TFR) for the year 2023?
-The Resident Total Fertility Rate (TFR) for 2023 is 0.97, which is the first time it has dropped below 1.
What are some of the reasons cited for Singapore's low fertility rate?
-Reasons for Singapore's low fertility rate include temporal factors like disrupted marriage plans due to COVID-19, financial costs of child raising, pressures to be an excellent parent, difficulties managing work and family commitments, and shifts in individual priorities and societal norms.
How does the low fertility rate reflect a global phenomenon?
-The low fertility rate reflects a global phenomenon where individual priorities and societal norms have shifted, leading to a decline in birth rates worldwide.
What are the societal impacts of the falling Total Fertility Rate (TFR) mentioned in the transcript?
-The societal impacts include smaller family sizes, more single individuals, weaker familial support networks for the elderly, and a growing proportion of Singaporeans remaining single.
How will the falling TFR impact Singapore's economy?
-The falling TFR will impact Singapore's economy by leading to a shrinking workforce, making it challenging to maintain economic dynamism, attract global businesses, and create opportunities for the next generation.
What are the experiences of countries like South Korea and Italy regarding low fertility and its economic effects?
-Countries like South Korea and Italy are grappling with economic slowdowns and declining wages, further compounded by low fertility and resulting demographic changes.
What is the government's stance on addressing the challenges posed by the declining TFR?
-The government is determined to address these challenges, recognizing the importance of a strong and vibrant economy driven by people and the need to tackle demographic changes.
Outlines
👨👩👧👦 Singapore's Population Challenges
The script discusses the critical issue of declining family stability and population growth in Singapore. It highlights that there were 26,500 resident marriages and 30,500 resident births last year, but these numbers have been on a downward trend compared to the previous five-year period. The total fertility rate (TFR) has dropped to 0.97 in 2023, marking the first time it has fallen below 1. Various factors contribute to this low fertility, including delayed parenthood due to COVID-19 disruptions, financial concerns, societal pressures, and changing individual priorities. The script also outlines the broader societal and economic implications of this demographic shift, such as smaller families, increased caregiving responsibilities, and a growing number of single Singaporeans with weaker support networks. The economic impact is significant, with a shrinking workforce posing challenges to maintaining economic dynamism, attracting global businesses, and creating opportunities for the next generation. The script concludes by emphasizing the determination to address these challenges, drawing parallels to the experiences of countries like South Korea and Italy, which are facing economic slowdowns and declining wages exacerbated by low fertility and demographic changes.
Mindmap
Keywords
💡Population Vision
💡Resident Marriages
💡Resident Births
💡Total Fertility Rate (TFR)
💡Low Fertility
💡Covid-19 Disruptions
💡Work-Life Balance
💡Global Phenomenon
💡Economic Impact
💡Demographic Changes
💡Addressing Challenges
Highlights
Core of population vision is strong and stable families.
26,500 resident marriages in the last year.
30,500 resident births welcomed.
Fewer resident marriages and births compared to the previous 5-year period.
Resident Total Fertility Rate (TFR) has declined.
TFR dropped below 1 for the first time in 2023.
Low fertility attributed to various temporal and societal factors.
Covid-19 disrupted marriage plans, affecting parenthood plans.
Financial costs and pressures of child raising are concerns.
Difficulties in managing work and family commitments.
Low fertility reflects a global phenomenon with shifted priorities and norms.
Impact of falling TFR on society with smaller families and more single Singaporeans.
Growing proportion of Singaporeans with weaker familial support networks.
Falling TFR will impact Singapore's economy with a shrinking workforce.
Challenges in maintaining dynamism and attracting global businesses.
Economic slowdowns and declining wages experienced by countries with low fertility.
Determination to address demographic and economic challenges.
Transcripts
at the core of our population Vision are
strong and stable families last year
there were
26,500 resident marriages we were also
delighted to welcome
30,500 resident births overall however
there were fewer resident marriages and
births annually on average over the last
5 years as compared to the preceding
5-year period our resident total
fertility rate or TFR has continued to
decline preliminary estimates indicate a
resident TFR of
0.97 in 2023 the first time it has
dropped below
1 there are various reasons for
Singapore's low fertility some are
temporal for instance couples that had
their marriage plans disrupted by
covid-19 which may in turn have delayed
their Parenthood plans others cite
concerns about the financial costs of
child raising pressures to be an
excellent parent or difficulties
managing work and family
commitments more broadly though our low
fertility reflects a global phenomenon
where individual priorities and societal
Norms have shifted we are already seeing
the impact of our falling TFR on our
society families today are smaller than
before with more s couples having to
care for both the young and old a
growing proportion of singaporeans are
remaining single and will have weaker
familial support networks when they grow
older our falling TFR will also impact
our economy as several members have
mentioned a strong and vibrant economy
is critical for Singapore as it helps
raise our standard of living and gives
us resources to tackle challenges
however a vibrant economy is ultimately
driven by people with fewer births we
will face a shrinking Workforce it will
be increasingly challenging to maintain
our dynamism attract Global businesses
and create opportunities for the Next
Generation this has been the experience
of countries like South Korea and Italy
who are grappling with economic
slowdowns and declining wages further
compounded by low fertility and
resulting demographic
changes we are therefore determined to
address these challenges
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