Investment in Education is Identified as Most Important Investment

Investment in Education is Identified as Most Important Investment

            Education has been playing a significant role in the development of the person as well as the country in the past few decades. Education is the key driver for growth and development of an individual, country and a world. In today's world, most of the countries are still backward and unable to proceed towards development due to the inefficient investment and lack of education. Provision of education to most of the individual has led to the subsequent personality development as well as the progress of the country towards better and sustainable condition (Jong-Wha, 2014). Apart from this, education has also been contributing to increment in employment, awareness about health and technological innovation. All of this will act as a medium to enhance human capital resulting in the increased productivity and incomes (Symposium, 2012). In this regard, the following essay focuses on how investment in education can help developing countries.

            The benefits of investment in education in the developing countries have been discussed in this essay to gain a deeper understanding of the topic. Thus, the thesis statement can be stated as, “Whether the investment in education proves to be an important investment the developing countries can make or not.”

Need of Investment in Education in Developing Countries

            Poverty, unemployment, and lack of development are the major problems which every developing country is facing in present situation. The prime cause due to which a developing country is unable to move towards the direction of development is a lack of adequate and proper education. The country is believed to be driving towards the development only when the rate of poverty is decreasing by significant rate and employment opportunities are enhancing. Apart from this, the health condition of the citizen of any country also plays a vital role in the growth of the country. Thus, proper education not only teaches the proper ethics of living but also puts the person on the avenue of maintaining good health, employment and empowerment (Brandt, 2015).

            The prime reason due to which developing country are unable to grow and improve the economy of nation is their inability to make an effective investment in correct place in an efficient manner. Most of the developing nations invest significant part on the building infrastructures rather than making efforts to make an investment in education which can give long-term development goals. From the study, it has been observed that, on an average, The income of each person increases by 10 percent and the GDP of the nation increases by 18 percent with the boosting of proper education every year (Brandt, 2015 ).

            Education is not only beneficial for the individual but also it is advantageous for the nation. Education gives an opportunity to both the male and female to sustain in the world and contribute towards the personal growth as well as the overall development of the nation.  Furthermore, proper education will help in removing the barrier of gender between male and female as a result of which female will gain an equal opportunity as gained by man (Suzuki, Ueta & Mori, 2012).Hence, education acts as a medium to give equal opportunity to all genders which ultimately takes the country towards the route of development with increased rate.

            Investment in Education is the most useful and efficient investment which a developing country can make to maintain a peaceful, healthy, prosperous, and developed society. Education makes an individual literate and improves the quality and living standards. Study and past reports show that minimum 40 percent literacy rate is required by any nation to move the country towards fast and continuous economic growth (CFTC, 2016). Investment in education is the best deal for a developing country because education gives a straight path towards the security of food and release from poverty. UN Food and Agriculture Organization states that the parents who are educated are capable of earning more income as compared to those of uneducated parents. Educated parents can produce more food through agricultural means and assist in giving food to their children with great ease (CFTC, 2016).

            From every sense, education is one of the prime factor which is responsible for the growth and development of the nation. It is impossible for the country to achieve significant level of development by the adequate amount of educated public and human resources. Education plays a vital role in the enrichment of the economy of a country. Hence, investment for provide proper and quality education to the people will have long-term positive impact on the development of a nation (Ozturk, 2001).

            Education and the development of nation go hand in hand because education is only the key factor which can lead to ending of poverty and increment in the rate of employment. Apart from this, education is the core factor which can make the country aware of the technological innovations which will help developing the country to take effective initiatives related to the technological development which is only possible when the literacy rate of the country is high (Fagerlind & Saha, 2014).

            Developing country needs to produce skilled and educated human resources to increase the productivity and income of a country (investinginkids, 2012). Providing sufficient education to the human resource will result in the awareness and importance of the technological advancement. In addition to this, proper education will improve the quality of living and people will learn to sustain in a world of competition. Education will also help in improving the self-esteem of every individual resulting in the sound working condition (Birch & Wachter, 2011).

            The proper investment in the field of education in developing country will help in improvement of the quality of education and increase the literacy rate of country. Quality education will result in educated and skilled workforce leading to the reduction in poverty line, improved health condition, and increment in employment opportunities in the country resulting in better and prosperous economy of country (Birch & Wachter, 2011). Thus, investment in education can lead the country towards improved economy and development.

Conclusion

            The growth and development in the economy of a country can be achieved only if proper investments are made for standardization and promotion of the education system. Government of any developing country needs effective investment plan to make initiative for promoting the level of education for the enhancement and growth of that country. Investment in education is beneficial in all terms since education is the only factor which can make long-term improvements in the economy of a country. Education will not only improve the economy of a country but also it will create peace, harmony and gender equity amongst the people living in the society. Apart from this, investments in the field of education will improve the quality of education which will also give exposure to  people about the technology and its innovations which needs to be known to move towards  development. Therefore, Government of a developing country should make a prime effort to promote quality education to get a skilled human resource and take the country towards the path of development. Thus, the thesis statement can be restated as, “The investment in education is the most important investment a developing country can make.”

References:

Birch, E. L., & Wachter, S. M. (2011). Global Urbanization The City in the Twenty-First Century. Philadelphia: University of Pennsylvania Press.

CFTC. (2016). Education: The Basic Building Block of Every Society. Retrieved October 11, 2016,         from http://www.canadianfeedthechildren.ca/what/education

Fagerlind, I., & Saha, L. J. (2014). Education and National Development: A Comparative Perspective.  Amsterdam: Elsevier.

investinginkids. (2012). Why education is most important to the economy, especially the local       economy, and how business can help improve education. Retrieved October 11, 2016, from             https://investinginkids.net/2012/06/14/why-education-is-important-to-the-economy-           especially-the-local-economy-and-how-business-can-help-improve-education/

Jong-Wha, L. (2014). Why we must invest more in education. Retrieved October 11, 2016, from             https://www.weforum.org/agenda/2014/09/invest-in-education-income-inequality/

Ozturk, I. (2001). The Role of Education in Economic Development: A Theoretical Perspective.   Journal of Rural Development and Administration, 9023, 39-47.

Symposium. (2012). Effective Investments in Education. Retrieved October 11, 2016,      http://www.global-economic-symposium.org/knowledgebase/the-global-economy/effective-i    nvestments-in-education

Suzuki, Y., Ueta, K., & Mori, S. (2012). Global Environmental Security: From Protection to          Prevention. Tokyo: Springer Science & Business Media.


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