Demographic Divergence: Central Asia’s Growth in a Slowing World

21 April 2025
Population growth is slowing across much of the world. In many high- and middle-income countries, demographic momentum has stalled, and in some cases reversed, with shrinking populations becoming a structural trend. This shift is already reshaping labor markets, consumption patterns, and long-term planning across advanced economies.

In contrast, global population growth over the next decade is expected to come primarily from Africa, parts of Latin America, and Central Asia. These regions share relatively younger age structures and higher fertility rates compared to aging societies in Europe and East Asia.

Within this global picture, Central Asia stands out as a region with consistent projected growth. According to World Bank forecasts for 2023–2030, Uzbekistan, Tajikistan, Kyrgyzstan, Turkmenistan and Kazakhstan are expected to expand their population bases, diverging from the path of demographic contraction elsewhere. While the region accounts for around 1% of the world population, the internal demographic dynamics are noteworthy, particularly in contrast to peer economies.

For investors and businesses, this growth implies expanding consumer markets, increased demand for services and infrastructure, and a potentially more dynamic labor force. These trends may open opportunities in sectors such as education, housing, retail, and health, especially when paired with supportive economic and institutional reforms. As global demographic weight shifts, Central Asia may offer a quieter but strategically relevant signal of where future market expansion can occur.
Sources: Population Estimates and Projections, DataBank, The World Bank. Dataset as of 21 April 2025. Visualization: B. Arslan.