New research by UNESCO reveals a staggering cost of failing to educate children worldwide: a potential $10 trillion annual loss to the global economy by 2030. That’s more than the combined yearly economies of France and Japan!
The report, titled “The Price of Inaction,” highlights the financial and social consequences of educational gaps. School dropouts and those lacking basic skills not only hurt economies, but also contribute to social problems. For example, the study suggests a 69% increase in teen pregnancy rates where basic education is lacking.
However, there’s a bright side. The report finds that simply reducing school dropouts and improving basic skills by 10% could boost annual economic growth by 1-2 percentage points. In other words, investing in education is a smart financial decision for countries.
“Education is a strategic investment,” said UNESCO Director-General Audrey Azoulay. “The message is clear: education benefits individuals, economies, and society as a whole.”
Azoulay urged member states to prioritize education, calling it a “universal right” and a “prerequisite” for everyone, not a privilege. She emphasized education’s role in tackling global challenges like poverty and climate change.
This report comes during a meeting of education ministers at UNESCO headquarters. With world leaders committed to improving education for all, this research provides a powerful argument for increased investment in getting every child in school and equipped with the skills they need to succeed.
