Business

S'pore is 11th in Human Capital Index

Singapore has been ranked top in Asia for developing human capital in a new report by the World Economic Forum (WEF).

The Republic ranks 11th out of 130 countries, having developed 73 per cent of its human capital as measured by the WEF's Human Capital Index.

This makes Singapore the highest-placed Asian country. The only other nation from the region in the top 20 is Japan, which is ranked 17th.

The Global Human Capital Index 2017 ranks 130 countries on how well they are developing their human capital across four dimensions - capacity, deployment, development and know-how - as well as across different age groups.

The report found that the world has developed only 62 per cent of its human capital as measured by the index.

This means nations are neglecting or wasting, on average, 38 per cent of their talent.

The United States and Germany are among the nations in a top 10 dominated by smaller European countries.

The report found that investments in education often fail due to inadequate focus on lifelong learning, failure to develop high-skilled opportunities and a mismatch of skills required for entering and succeeding in the labour market.

Singapore combines the world's second highest proportion of high-skilled employment with significant strengths in the quality of its education system and staff training, the report noted. - THE STRAITS TIMES

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