Literacy rate plays a pivotal role in shaping a country’s future. It is important for a nation’s development and prosperity. Thus, it is everyone’s right to have a formal education. This essay discusses how education positively contributes to a country’s economy through a macro lens.
If the government decides to fund educational institutes for under-previliged children, it could contribute to a trade surplus due to increased exports. Instead of producing un-skilled labourers that are burden on a country’s GDP and tax holdings, the government will produce experts of diverse fields. To illustrate, an educated individual is more likely to open and successfully operate a business as compared to an un-educated human. Once a business gains traction, it starts to expand and this could lead to increased exports.
On a broader level, educational accessibility has a direct co-relation with a country’s soft image. When knowledge is available to the entire population, it drives competition. This leads to production of top talent. Moreover, this talent can be exported. For example, India produces the highest number of Tech CEO’s in the world, be it Google or Microsoft. This was an after effect of India’s educational reforms which promoted the ideaology of increasing educational accessibility.
In conclusion, governments’ should heavily invest in their educational sector by increasing its reach to the common man. In the long run, it will benefit a county’s economic landscape. Following India’s example, education gives the best return on investment. Therefore, to increase a country’s value infront of the world, education is key.