Updated: Jan 22, 2019
How nations develop their human capital can be a more important determinant of their long-term success than virtually any other factor.
Countries throughout the world are waking up to the fact that a nation’s level of human
capital and talent will increasingly be of strategic importance in attracting investment, ensuring economic growth and improving countries’ overall competitiveness. This is evident
from reports and studies by the World Economic Forum (WEF), the World Bank and the
OECD and publications like the Global Talent Competitiveness Index. As the WEF puts it,
“How nations develop their human capital can be a more important determinant of their
long-term success than virtually any other factor.” It is also interesting to note that five
out of the twelve pillars used to compile the Global Competitiveness Index are directly or
indirectly related to human capital. This emphasis is gaining momentum as the impact of
the 4th Industrial Revolution is playing out. This brief paper analyses the World Economic
Forum’s Global Human Capital Report 2017 with specific implications for South Africa and
with brief proposals on how to improve the situation...