Asian Countries Invest Heavily in Human Capital According to the World Bank Report

The human capital index is a new measure of investment in human capital by countries. Asian countries seem to have topped the latest index that gauges youth mortality, health, and schooling for countries across the world. Investment in the education and health of the population is said to be directly related to the economic progress and development of a country. Experts at the World Bank suggest that investing in healthcare and education will double the potential lifetime earnings of the youth of a country. The index attempts to shame the governments across the world that neglect their primary job of providing healthcare and educational opportunities to their population.

Surprisingly, Asian countries fared better than most when it comes to investment in healthcare and education.

Singapore topped the rankings as it did exceptionally well in most measures. The life expectancy in Singapore at 82.8 years is one of the highest in the world. Its universal healthcare is another bright example of good governance and investment in human capital, while the education system is a success story of its own with the best exam results in the region. These made up the three basic metrics that the index used to size up countries across the world with regards to their investment in human capital. The index was dominated by Asian countries. The rest of the top 4 spots went to South Korea, Japan, and Hong Kong.

Japan figured among the top 10 due to its traditional commitment to ensuring quality education to its population, which was further boosted by its consistent economic progress. Korea stood out for its high tertiary education enrollment and held one of the top spots in the list. China, which is the largest economy in the region, did well, too. Its exemplary vocational education and skilled workforce were some of the positive points that went in its favor.

The huge population in the Asian region can be both a boon and a bane depending on how much the countries invest in their human capital. Most countries across the Asia Pacific region, especially the rising middle-income economies, have started to focus more on the development of their human capital. The idea is to prepare the human capital to be healthy, educated, and happier so they can be more productive, and the nations can prosper as a result.

The World Bank’s president urged those lagging behind in human development to invest more in their human capital, as in most cases, that’s all the capital that developing countries can invest in.