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HR & EDUCATION | Staff Reporter, Singapore

Singapore has most developed human capital in Asia

It ranked 11 globally.

The World Economic Forum's (WEF) latest report placed Singapore as the 11th country of 113 with the most developed human capital.

Overall, the country scored an overall 73.28, the highest in the East Asia and Pacific Region.

Singapore ranked fourth in terms of know-how with a score of 72.5. This was measured through the country's high-skilled and medium-skilled employment share, along with economic complexity and availability of skilled employees.

WEF said, "In the countries that are currently the most successful in leveraging their people’s know-how—such as Switzerland and Singapore—a majority of the population work in high-skilled and expertise-based occupations within a complex, diversified economy."

The Lion City ranked 25th for development with a score of 73.6. The category covered education enrolment in primary, secondary, vocational, and tertiary levels, along with quality of education, gender gap, skill diversity, and staff training.

According to WEF, Singapore "combines the world’s second-highest proportion of high-skilled employment with significant strengths in the quality of its education system and staff training."

The country ranked lower in terms of capacity at 27, with a score of 76.4. This was measured via literacy and numeracy and education attainment rates across primary to tertiary education.

Singapore ranked lowest in terms of deployment at 36 with a score of 70.5, based on labour force participation, gender gap, and rates for unemployment and underemployment.

WEF said, "It, too, is yet to fully realize the human capital boost that would come from addressing the nation’s employment gender gap." 

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