The Demographic Factor Impact on the Economics of the Arctic Region

Abstract

Decline of the international price of some minerals, such as coal, has changed the living standards of the Arctic population leading to its considerable out-migration because of the drop in profitability not only in mining, but also in related industries. Being essential for the sustainable economic development, the highly qualified specialists are currently a crucial issue in the Arctic. This research employs demographic and economic indicators to address the gap in the study of demographic challenges for the Arctic administrative-territorial entities. Special attention is paid to the comparative analysis of the population dynamic in the Russian and global Arctic regions. As part of this study, the impact of the demographic factor on the economic indicators of the region was assessed on the basis of GRP data calculation. Special attention is paid to the analysis of the major trends in the Arctic labour market. Based on the results of the assessment, an increase in GRP was determined with the simultaneous decrease in the Arctic population. The current demographic situation in the Arctic regions in the context of gender factors was reviewed. It should be noted that the article contains exceptions and the causes of the phenomena described. The results of the research may contribute to better understanding of regional variation and trends in socio-economic development of the Arctic as well as the stabilisation of the Arctic population.