How nations develop their human capital can be a more important determinant of their long-term success than virtually any other factor. The Global Human Capital Index 2017 ranks 130 countries on how well they are developing their human capital

(Prensa Latina) The World Economic Forum said on Wednesday (Sept. 13)  in Geneva that Latin America and the Caribbean are located in the lower-middle zone at the global level on the proper development of people”s talent.

That meeting highlighted the human capital contribution of Argentina and Chile by publishing its Human Capital Index 2017.

This Forum report, chaired by the German Klaus Schwab, analyzes the situation of 130 countries and explains a development of 62 percent of human capital worldwide, an insufficient percentage.

The document adds that the inability of countries to adequately develop people’s talent reinforces inequality, depriving them of opportunities and the possibility of accessing a broad base of quality jobs.

He argues that efforts to promote the full economic potential of people fall short, as only 25 countries drive 70 percent or more of their human capital.

Most countries use between 50 and 70 percent of their human capital, but there are still 14 countries that remain below 50 percent, according to the report.

The Forum explores key issues such as capacity (investments in education), deployment (application and accumulation of skills), development (education of the new generations and training), and knowledge (specialized knowledge).

It also measures the performance of countries in five age or clearly differentiated generation groups.

The Head of Education, Gender and Work of the Economic Forum, Saadia Zahidi, indicated that the strategies of the countries can vary according to their demographic structure. She, therefore, recommends a more inclusive and proactive approach.

In the ranking of the World Economic Forum, the countries of Latin America and the Caribbean appear in the lower-middle zone, and the gap between the best and the worst positioned is lower than in any other region.

The two best nations in the area are Argentina (52) and Chile (53), while the two largest economies, Mexico (69) and Brazil (77) are placed in the middle and lower areas of the index along with Peru (66) and Colombia (68).

The worst positions are occupied by Venezuela (94) and Central American countries like Honduras (101). Globally, the top 10 are led by small European countries: Norway, followed by Finland (2) and Switzerland (3).

The United States is in fourth place, Denmark in the fifth and Germany in the sixth, ahead of New Zealand (7), Sweden (8), Slovenia (9) and Austria (10).

The top 20 also include four countries in East Asia and the Pacific, three countries in Eastern Europe and Central Asia, and one country in the Middle East region and North Africa.

The best-positioned region in the development of human capital is North America, followed by Western Europe, where 12 countries crossed the threshold of development of at least 70 percent of their human capital, when the Netherlands (13) and Belgium (15) are ahead of the United Kingdom (23) and France (26). Three Mediterranean countries (Portugal 43), Spain (44) and Greece (48) are listed below.

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