The Philippines obtained a below average of Human Capital Index at the recent report of the World Bank. The poor performance is attributed by the ongoing concern of the country which is malnourishment, highlighted by the World Bank.
Human Capital Index
But first, what’s Human Capital Index? HCI is being measured by individual’s knowledge, skills, and health, which capable of attaining labor to acquire economic growth.
Human Capital Index in the Philippines and its neighboring countries
Currently, Philippines has 57 percent as its HCI, below the average percentage of 61 in East Asia and Pacific. World Bank said that “only 55 percent of the potential of the children born today will be fulfilled once they have complete education and full health.”
According to Mara Warwick, World Bank country director for Brunei Darussalam, Malaysia, Philippines and Thailand, “children may lose their potential if the government will not invest on its own people”.
Measuring HCI had identified significant major factor which affects the performance of the country in the future, the adamant malnourishment, that leads children not to attain enough focus to be attentive in school and will even result to drop out. In the Philippines, malnourishment is brought about by inaccessible physical and economic factors to acquire safe and nutritious food. Respectively, Jim Yong Kim, president of World Bank Group said, “ evaluating HCI will also identify country’s outcomes on health, education, productivity, and economic growth.”
Out of 157 countries, Singapore has the most developed human capital. Subsequently by, South Korea, Japan and Hong Kong.