Singapore Placed 13th in Human Capital Investments
Singapore is an island full of opportunities both for its citizens and foreigners. Recently, the state has been ranked number 13 for human capital investment. This is according to a study conducted by experts from the University of Washington. This is a great improvement for the state considering that it has not appeared anywhere in the top 30 in the last couple of decades.
photo/Gerd Altmann
Expert Opinion
According to all the experts on the list of consultancy in singapore, the country has come a long way to attain this position. Out of the 195 countries on the list, Singapore managed the 13th position because it has put a lot of effort into human capital investment. The last time this ranking was done in 1990, the Lion City landed at position 43. Indeed, this is a great improvement that needs to be hailed.
Scope of Study
During the assessment, the study focused on how both the health and education sectors have affected human productivity. It mainly looked at the number of peak years a person could work efficiently. The study has taken a total of 26 years to complete. The functional health report of any state looked at diseases like TB, Malaria, HIV/AIDS and chronic illness. The study was interested in how all these affected the productivity of people in relation to GDP. On the other side, factors like life expectancy and school years played a great part in determining the results.
Singapore performed very well in functional health at 82 percent. Not many countries could manage such a high score, which means that the state has a well-developed health sector. The country did not stop here in performance as educational attainment was an average of 12 years with the maximum attainment being 18 years. Out of all those who went to school, the average performance was 98 percent, which is an indication that the country is an excellent performer.
Back in the early 1990s when the last study was completed, Singapore did not perform so well. Jumping from position 43 to 13 means that Singapore has moved 30 positions in just 26 years.
A View of Other States
Singapore has led other states like Japan, which followed Singapore closely at position 14. Taiwan and South Korea featured on the top ten list at position 5 and 6 respectively. Surprisingly, Japan would have been expected to take a better lead owing to its development status. Finland is the leading country in the study.
The Final Word
The world is increasingly becoming dependent on technology to run all its operations. Human capital remains the source of all this knowledge. So, when people learn how to innovate and develop new ideas, technology and create working systems, then the country is likely to progress. The nation also needs to remain healthy at all times.
This is what Singapore has done for its people. It has led to significant development. Both the education and health sectors in Singapore are the main priority for the government. That is why all citizens have medical coverage and all health centers are up to standards.
Author: Jack Botsford
