The laws of Physics tell us that every second, the universe is changing and evolving. Therefore, newer approaches are inculcated in our theories to stay updated. The same can be said about the nature of the global economy. The current job market shows a decline in traditional employment practices with newer jobs that did not even exist in the past decade. Events like COVID and the A.I revolution in tandem with globalization shaped a revolution in the global economy, leading to economic practices that can keep up with the rapidly evolving world.
It was observed that while the older generation struggled to adapt with this new economy, the younger generation was at the forefront of mastering its nuances. This does not come as a surprise since the younger generation grew up with technologies like the internet and smart phones while they were new and had plenty of time to adapt. The youth, hence, are a strong asset for any country to thrive in the present Economic revolution and Pakistan is no exception.
Pakistan’s response to the Economic revolution so far has been digitization of its services and investment in the I.T sector. While this is a good step, there are a lot of youth centric areas Pakistan has been missing out on. Those areas require the Pakistani leadership to understand the mindset of today’s youth and create youth friendly policies to create ease in their professional activities. These areas if leveraged carefully, can bring a significant increase in Pakistan’s economy on par with global standards.
The Gaming Industry:
The U.S. military shocked the world when it revealed its use of video games for recruitment of new soldiers. The reason for such a bold move is the acknowledgement of the fact that video games are something much bigger than child’s play. They require active strategic thinking to outsmart your opponent and serve as simulations to train the minds of soldiers. This is why even the sports industry is now including gaming as a legitimate sport under the banner of E-sports. Aside from its fortitude, the video game industry brings in more revenue than the whole movie and music industry combined. With such a grandiose industry, countries are investing billions in this industry. Luckily, even without the support of the Pakistani government, its youth is already making strides internationally.
Here’s a test: Tekken is a video game franchise with millions of active players. Pick anyone out of this sea of fans and ask what they think of Pakistan. One will be surprised to find how fondly they will describe Pakistan and how they are willing to even visit the country. This was made possible by Arslan Ash, a Pakistani player who consistently defeated top Tekken players and made a name for himself. Eventually, it was revealed that a whole community of Pakistani Tekken players existed, and they all went on to win major tournaments and rake in millions of dollars all with their independent effort.
This is a golden chance for the Pakistani government to capitalize the momentum already created by its youth and provide proper assistance to the local community. There have been countless Tekken players from around the world that have visited Pakistan just to learn and interact with its local Tekken community. Pakistan can use this fact to increase its tourism by making dedicated national E-sports centers while also providing a platform to foster young talent in E-sports.
Freelance Industry
A shift in formal education has been observed in the world. The demand for academic degrees has gone down considerably in exchange for skills. For this reason, major companies like Microsoft and Google offer free short courses of in-demand skills to get people started in the work industry even without formal education. Pakistan boasts a total 9% of freelancers from its total population who bring in millions of dollars to its economy.
The recent internet shutdown has caused a massive blow to the freelance industry in Pakistan where they lost a huge amount of money. The need for the government to make freelancer inclusive policies is much needed for allowing this nascent industry to thrive. Raising awareness about this industry and providing ease to freelancers can open a new door of revenue for Pakistan’s economy.
Influencer culture
The Turkish shooter at the Paris Olympics became a global sensation within minutes because of his composed and focused demeanor reminiscent of a Hollywood flick. This garnered a huge positive image for Turkey which warms up potential tourists or even investors. This is the soft power of today’s influencer culture which influences attitudes of people globally. Case studies of Japan and Korea dominating the globe with their anime and K-pop industries serve as guiding posts.
Countries harness such charismatic personalities to make them mascots and representatives of their culture and society. These individuals only sprout in countries where they are allowed to pursue what they love. For Pakistan, this means reorienting its priorities and allowing local talent to make it big at the global stage regardless of if its conventionality. Recent examples of Arshad Naddem winning the gold medal and Usman Riaz producing Pakistan’s first hand-drawn animated movie are noticeable – both achieved these feats independently without government interventions.
By acknowledging these unconventional industries and investing in them by collaborating with its youth, Pakistan can ride this wave of economic revolution that is a testament of the world’s changing nature. Major changes in the mindset of leadership are required to give up their old ways of doing things and embracing the newer ways by which the world operates. It is crucial to be a part of the youth’s mindset and facilitate them in their endeavors for such is the need of today’s world.
The Author, Syed Aafeen Bin Ghayas holds an M.Phil. in Theoretical and Mathematical Physics, specializing in quantum physics. He has presented at international conferences, won awards for research and marketing, and brought a multidisciplinary perspective to his work. Combining scientific expertise with innovative communication skills, he is a dedicated CSS aspirant.
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