Representing $15T of annual global spend, Education and Healthcare are incredible engines of economic and social wellbeing. The COVID pandemic has been a tragic, once in a lifetime forcing function for innovation. This year alone, $30B of venture capital has been invested in digital learning and digital health startups.
The Oxford Dictionary defines Human Capital as “the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country”. Every year, the world invests $15T into Health and Education – the foundations of Human Capital. This is investment into our collective skills, knowledge and experience – made possible and productive by our mental and physical wellbeing. That’s nearly 1 in every 5 dollars of World Domestic Product or Global GDP, the “standard measure of the value-added created through the production of goods and services” (OECD).
National systems, policy differences and pandemics aside, together education and healthcare are the world’s economic and social wellbeing engines. The future of learning, the future of earning and the future of global health and wellbeing are the fundamental determinants of the future of humanity.