Human Capital Index of Armenia Quite High in the Region

• 05.14.2015, 23:21
•  World,  Armenia

World Economic Forum (WEF) has reported Human capital index for 2015. This report provides comprehensive information on the talent base in each country, including information on education levels of the employed, unemployed and the inactive members of the population as well as the specific qualifications of the latest entrants to the workforce. According to WEF talent is the key factor linking innovation, competitiveness and growth. Governments, business leaders, education institutions and individuals must each understand better the global talent value chain. Data and better metrics are critical to this understanding.

WEF founder and executive chairman, Klaus Schwab, said in his statement that Human capital index measures present performance against an ideal benchmark, and offers insight into how well a country is positioned for deploying talent in the future.

Armenia is on the 43rd place out of 124 countries with 72.5 overall score in human capital index context. The scale is between 0 to 100 points, where 100 is the highest point. Azerbaijan is on the 63rd place with overall score of 67.58. Turkey on the 68th with overall score of 67.09. Russia the 26th with overall score of 77.54 and  Iran on 80th with 63.20 scores.  As for Georgia and Belarus they were missing from the human capital index list. Finland among the world’s 124 countries is on the first place with overall score of 85.75 and the last place is Yemen with 40.72 scores.

The scores are also ranged by different age groups. Human capital index of Armenia for the group under the age of 15 is on the 46th place with the score of 86.75, th 15-24 age group is on the 61st place with the score of 68.74, the 25-54 age group is on the 50th place with the score of 64.40, the 55-64 age group is on the 23rd place  with the score of 78.54, the 65 and over age group is on the 21st place with the score of 68.78.

So, Armenia is missing about 13 points to be in the first place in the world with its human capital index. The numbers came to improve once more that qualified and talented human capital is of great importance and in some cases can be more decisive than being rich in natural resources. Human capital as recourse is more valuable for any country in order to develop economic, social and political life.