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Education

UNESCO Unveils Staggering $10 Trillion Cost of Global Education Crisis

Tuesday 18 June 2024 - 07:40

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In a sobering report released on Monday, the United Nations Educational, Scientific and Cultural Organization (UNESCO) revealed that the global cost of out-of-school children and youth, coupled with learning deficiencies, amounts to a staggering $10 trillion annually for the world economy by 2030. This eye-watering figure, described as "dizzying" by UNESCO Director-General Audrey Azoulay, is compounded by significant societal damages.

The report, entitled "The Price of Inaction: The Costs of Out-of-School Children and Youth and the Cost of Not Learning," presents a groundbreaking analysis of the economic and societal consequences of educational shortcomings. Azoulay underscores the report's resounding message: "Education is a strategic investment—one of the best investments for individuals, economies, and society as a whole."

Despite decades of progress in expanding access to education, a staggering 250 million children and youth worldwide remain out of school, and 70% of 10-year-olds in low- and middle-income countries lack the ability to comprehend a simple written text, the communiqué notes.

Conversely, the report estimates that reducing the proportion of youth dropping out of school or failing to acquire basic skills by just 10% could boost annual GDP growth by 1 to 2 percentage points.

Beyond financial considerations, the report sounds the alarm on the significant societal damages caused by these educational deficiencies. Globally, gaps in acquiring basic skills are associated with a 69% increase in early pregnancies among young girls, while each additional year of secondary education contributes to reducing the risk of girls marrying and having children before the age of 18.

During a meeting of Education Ministers on Monday at UNESCO's headquarters in Paris, attended by Chilean President Gabriel Boric, who co-chairs the High-Level Steering Committee for Quality Education for All alongside Azoulay, the UNESCO chief called upon the organization's 194 member states to "honor their commitment to transform education from a privilege to a prerogative for every human being across the world."

To achieve the goal of quality education for all, UNESCO outlines 10 recommendations in its report, including ensuring that every girl and boy receives a minimum of 12 years of free, publicly funded schooling.

Furthermore, the document advocates for the establishment of "second chance" provisions for youth who have been unable to access quality education or whose education has been disrupted.

With its comprehensive analysis and urgent call to action, UNESCO's report serves as a wake-up call to the global community, underscoring the pressing need to prioritize education as a catalyst for individual, economic, and societal development on an unprecedented scale.