Singapore Emerges No 1 Out Of 157 Countries In World Bank Ranking
Singapore has topped the rankings in the inaugural World Bank Human Capital Index (HCI).
The index, which is based on health, education and survivability measures, looked at the earnings and productivity potential for the citizens of 157 countries.
Each country is measured on a scale of zero to one – one being the best possible score. A country with a score of say, 0.5, means that its citizens are foregoing half of their future economic potential, compared to if they had “full health and complete, high-quality education”.
Singapore’s score of 0.88 has put it at the top of the rankings. Other Asian nations dominated the list as well, with South Korea (0.84) and Japan (0.84) placing second and third, while Hong Kong (0.82) placed fourth.
The World Bank said that 56 per cent of children born today will lose out on more than half of their earning potential because governments are not investing effectively in their people to ensure a “healthy, educated, and resilient population”.
World Bank Group President Jim Yong Kim said that building human capital is “critical for all countries, at all income levels, to compete in the economy of the future”.