The charts below illustrate data about the proportion of government spending on knowledge, the average number of years of education finished, and the average annual salary per person in US currency in 5five widely different countries: Bangladesh, China, South Africa, Ireland, and Switzerland in 2010.
It can be inferred from the charts that spending much on education does not guarantee a higher income for citizens. South Africa is a shining example of this. However, the main reason why the majority of countries have a higher income is the number of years of education completed. This aspect plays a vital role in income per person. For instance, Switzerland completed more years of education than any of the given countries, reaching the highest income per person.
As can be seen from the charts, South Africa’s government, which spent more than any of the listed countries, spent about 17%, nonetheless achieving only 2600 US dollars per person.
Conversely, Switzerland, spending nearly 2 percent relative to South Africa, attained the highest income per individual.