Ukraine entered the top 50 countries of the world on the human capital index according to the World Bank
The top ten includes Singapore, South Korea, Japan, China, Finland, Ireland, Australia, Sweden, the Netherlands and Canada. Ukraine closes the top 50, standing ahead of countries such as Mongolia, Turkey, Georgia, and Romania.
The index considers five indicators: the survival rate of children under five years old; survival rate of adults from 15 to 60 years old; the duration of school years for children; quality of education; percentage of children without developmental delays. The value of human capital in the ranking varies from 0,8 to 0,88 points. The country in which the newborn is provided with an ideal level of education and health care scores 1 point.
In the overall standings Ukraine scored 0,65 points, entering the third echelon in terms of the development of human capital.
“Human capital is the health, skills, knowledge and experience of the population. Investing in people in the form of food, health care, quality education, creation of jobs and professional development helps to develop human capital, which is crucial for elimination of extreme poverty and forming a more socially cohesive society,” – the World Bank said.
Analysts say that without human capital, countries will not be able to achieve sustainable economic growth or form a contingent of employees who are ready to take jobs that require advanced qualification and skills in the future, or compete effectively in the global economic arena.