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The Actuary The magazine of the Institute & Faculty of Actuaries

World population set to reach seven billion in October

What kind of conditions will the seven billionth child grow up in? Will they have enough essentials such as food and clean drinking water? What will their life expectancy be?

Ahead of this population milestone, and with an estimated 258 births per minute globally, insurer Allianz has produced an interactive online environment exploring the challenges the world faces.

Michaela Grimm, senior economist, Allianz, said: "We keep a close eye on demographic change, because it has a fundamental influence on future economic and financial market trends."

Statistically, a child born today can expect to live for at least 68 years, the firm says. Africa, Asia and Latin America have the highest birth rates, and demographic experts expect the seven billionth child to be born in India, which is set to overtake China as the most populous country within the next ten years.

Looking forward, the latest calculations by the United Nations indicate the world's population could top 10 billion by 2100.  

To visit the Allianz interactive special on the earth's 7bn inhabitants visit http://knowledge.allianz.com/?1609/world-of-seven-billion-animation