Global Statistics

Education

20.07.2005 · Research Group on the Global Future

Increasingly, it is the input of new knowledge that provides the source of higher productivity and economic growth, rather than increases in the factors labour and capital. The revolution in information and communication technologies has not only lead to new products and markets, but has also profoundly changed the way things are done around the world, leading to huge efficiency and productivity gains.

Given this trend, a country's prosperity will come to depend less on the material resources it commands, and ever more on the intellectual capabilities of its citizens. Countries or regions where education is poor, or where its benefits are limited to narrow segments of the population will find themselves loosing out in the global competition for shares in production and economic growth.

Source: World Economic Forum 2004

Source: World Economic Forum 2004

Completing not only a secondary education but also a university degree requires a considerable investment of time and effort (and often money as well) on the part of students and their families. The opportunity cost of foregone wages must be outweighed by the long-term benefit. On the part of society, the willingness to support education until well into maturity signals recognition that developing productive skills is worth delaying entry into the work force.

Source: OECD

Throughout the developed world, graduation from secondary schools is increasingly taken for granted. The long-standing disparity between male and female graduation levels is disappearing as well.