Building a stronger Human Capital could accelerate Morocco’s economic growth, job creation trajectory and competitiveness gains. In 2018, Human Capital was estimated to contribute 41 percent to the country’s wealth per capita, a level substantially lower than in countries with a similar level of development.
Whew, it’s out!
On October 11, 2018, the World Bank Group released its inaugural Human Capital Index (HCI), a tool that quantifies the contribution of health and education to the productivity of a country’s next generation of workers. The question underpinning the HCI asks, “ ” Globally, 56 percent of children born today will lose more than half their potential lifetime earnings because governments and other stakeholders are not currently making effective investments to ensure a healthy, educated, and resilient population ready for the workplace of the future.
Last week, more than 11,000 delegates from the World Bank Group’s member countries –public and private sector attendees–gathered at our Annual Meetings in Indonesia to discuss how we can accelerate progress toward our twin goals: to end extreme poverty by 2030 and boost shared prosperity among the poorest 40 percent around the world.
Disruptive technologies create opportunities for development but they also put those goals at risk. Our discussion this past week focused on the changing the nature of work – the topic of our World Development Report this year. While technology and automation are doing away with some jobs, innovation is also creating new occupations, and launching career fields that didn’t exist a few years ago. Those who are prepared for this future will have many opportunities to achieve their aspirations. Those who are not will be left behind.
The IMF/World Bank Group Annual Meetings is an event you won’t want to miss. Join us for a week of seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial system. This year’s events will take place in Nusa Dua, Bali, Indonesia, October 8-14, 2018.
Find out why the World Bank, countries, and partners are coming together to try to close the massive human capital gap in the world today.