World Bank Launches New Indicator of “Human Capital Development”

  • Dubai, United Arab Emirates
  • 12 October 2018

The UAE was ranked 49th in the World Bank's Human Capital Index and gained 0.66 points on the Singapore index with 0.88 points.
The World Bank has launched a new system of classification of countries as they succeed in developing their human capital in an effort to urge governments to invest more effectively in education and health care.
According to the Human Capital Index, poor African countries were worse off, with Chad and South Sudan at the bottom of the list, while Singapore followed by South Korea, Japan, and Hong Kong has topped it.
Based on measures of health, education, and longevity, the index measures future productivity and potential income of the 157 member countries of the World Bank and finally the economic growth of these countries. According to the index, an average of 56% of children born now will lose more than half of their potential income because governments do not invest properly to ensure they are educated and qualified to work in a developed environment. Jim Young-Kim, World Bank Group President hoped the new indicator would encourage governments to take steps to upgrade their ratings.

Source (CNBC Arabia, Edited)

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