The Philippines Human Capital Review: Investing in the Early Years to Boost Human Potential

Human capital—which encompasses health, knowledge, skills, and experience acquired throughout one’s life stages—is one of the main drivers of broad-based economic growth that translates into improvements in living standards. Enabling the present and future workforce to develop human capital will help them realize their full potential as productive members of society. This productivity translates into economic benefits that are more evenly distributed and will propel the economy towards inclusive and sustainable growth.

The report finds several factors contributing to the productivity gap, including limited and unequal access to education and health services; low proficiency in foundational skills like reading, writing, numeracy, and problem-solving; pervasive poverty and inequality; and heightened vulnerability to natural disasters exacerbated by climate change.