THE IMPORTANCE OF INVESTMENT IN HIGHER EDUCATION FOR THE DEVELOPMENT OF SOCIETY
- 17 April, 2018
- Posted by: CIIC
- Category: ICCI - Innovation Centre
Everyone has the right to a quality education and this requires resources.
Higher education is one of the main drivers of the evolution of society.
Investing in education is vital to ensure a prosperous and competitive socio-economic system.
It is important not to forget that the University is the engine of R&D&I and has much to do with the competitiveness of any country and economy.
Higher education has a high responsibility to society: they are the responsible for preparing the professionals of the future. This has been the case for decades, so there is no doubt about the effectiveness and importance of the role of the University.
The development of skills, but also of soft skills and the ability to work in a team depends on the University and the challenges that are overcome during this training period.
It should also not be overlooked that the University is the main center for research and innovation, so when we talk about economic resources dedicated to education, we must not forget that the investment must be divided between facilitating the development of scientific research and facilitating a full, quality educational experience accessible to all.
Investment in these two aspects of education is the most robust and effective pillar for the development of a country’s economy and society, especially with the aim of reducing the inequality gap and improving access to decent, quality employment opportunities.
Actions and examples
Investing in R&D&I and knowledge is the long-term strategy of the major world powers to ensure a positive impact on their development and competitiveness. In this way, countries such as the United States lead scientific advances in health and are at the forefront of innovation and knowledge.
The first step begins with an increase in the GDP share or a fairer distribution of the resources they favor in R&D. It is estimated that countries such as Spain or Argentina should invest at least twice as much as they currently do in research and higher education.
South Korea is also a good example of the qualitative leap achieved with a good investment. Decades ago, they devoted 0.4% of their GDP to R&D&I issues. Currently, they spend 3% of GDP on education and investment in knowledge, which has meant that they have improved their international competitiveness.
In addition, the standard of living of citizens and the benefits to the economy have been increased from a per capita income of $278 to an income of $17,000. And now South Korea receives exchange students and researchers interested in its projects and training programs.
Israel’s universities are also a good example, with their methods of technology transfer linking academia and science, the business world and society in general. This system ensures that all innovation is incorporated into the country’s productive system and contributes value to society.
It is all a matter of getting involved and making education a priority for change managers and power bodies.