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What will Croatia’s soccer players do next?

Maciej Drozd's picture
Photo: Drusany/Shutterstock
The 2018 World Cup brought fame to the Croatian team, with many fans around the world – including the author of this blog - rooting for the team in white-and-red checkerboard jerseys. For the players on the Croatian national team, the success they found on the field should also pay off financially, thanks to prize money, higher pay, and advertising revenues.
 
But the stories of the top-earning soccer stars living a glamorous life of wealth tend to make us forget that most athletes are not wealthy enough to retire when their careers end and find themselves facing the same challenges as everyone else looking to change professions.
 

I believe Belarus will benefit greatly from the Human Capital Index – Here’s why

Alex Kremer's picture
Also available in: Русский


On 11 October 2018, the World Bank launched its Human Capital Index, which quantifies the contribution of health and education to the productivity of the next generation of workers. The Index is part of the Human Capital Project, a global effort to accelerate more and better investments in people. Belarus didn’t participate in the Index this year.

Back in 1440, King Henry VI of England founded a college for poor scholars, providing a free education for boys whose families couldn’t afford to pay. At that time, the young students learned to read and write so that they could later work as administrators in the royal court.

A few centuries later, in 1977, I became one of “King Henry’s scholars”. I’m not working for a king, of course, but I recognize how lucky I am to have benefited from Henry’s medieval investment in human capital. One could perhaps call him a “very early adopter”.

These days, investing in people makes more economic sense than ever. Human capital – the knowledge, skills, and health that people accumulate throughout their lives – accounts for up to 68% of a country’s overall wealth, on average. In the case of Belarus, where I now live, the share of human capital in the country’s total wealth is somewhat lower, at 49.2%.

After three decades of transformation in Georgia – what’s next for the jobs market?

Florentin Kerschbaumer's picture
Georgia Job Market
Celebrating his 60th birthday recently, my father chatted with me about his career and getting his first job. He graduated as an engineer in the 1970s in Austria and faced very different employment opportunities to those I faced some decades later. There were five construction firms, all just around the corner from his home, to which he could apply for a job at that time.

When I finished graduate school in 2016, I applied for work with organizations in five different countries around the world. Suffice to say, the labor market in which my generation is competing is vastly different and far more globalized than the one my dad faced.

Improving public procurement in Georgia – what’s the magic recipe?

Sandro Nozadze's picture
Procurement Georgia

What exactly is procurement, you may ask? If you google the word, you’ll likely find several different definitions.
 
Essentially, procurement is about buying things. That sounds quite simple, of course, but it becomes much more complicated at the level of government buying, especially when complex risks and variables must also be considered. So, is there a way to simplify government procurement?

Could private job services help address the unemployment challenge in Bosnia and Herzegovina?

Josefina Posadas's picture
Also available in: Bosanski
Employment in Bosnia and Herzegovina
Bosnia and Herzegovina: private and public employment services
Despite recent stability in economic growth in Bosnia and Herzegovina, with 3.2% growth projected for 2018, the country continues to experience an elevated level of unemployment, especially among young people.

To help address these alarming statistics, the governments in Bosnia and Herzegovina are investing substantial resources in promoting employment opportunities. These services comprise mostly job intermediation, such as counseling or job matching, and financial incentives to employers when they hire registered unemployed people. But given the magnitude and persistence of the unemployment problem, there must be other, more effective approaches that could be deployed to complement ongoing practices. One such approach is outsourcing selected employment services to private job brokers.

 

Romania: good policies and institutions can limit the impact of natural disasters

Donato De Rosa's picture
Also available in: Română


The World Bank’s recently completed Systematic Country Diagnostic highlights Romania’s vulnerability to natural disasters. Over the years, floods, droughts and earthquakes have cost the country thousands of casualties and billions of euros in damages to physical infrastructure. They have hurt the economy’s productive capacity and disproportionately affected the poor.

A vulnerable country

Countries around the world are already seeing evidence of the damaging impact of climate change, which is making past growth patterns unsustainable and reversing progress made on poverty reduction and shared prosperity.

“Step by Step”: Enhancing the tourism potential of southern Albania

Anita Ellmauer-Klambauer's picture
Also available in: Shqip
Saranda stairs. Source: Piotrus  

One of my favorite memories from the past summer was discovering Saranda, located in the southern part of the ‘Albanian Riviera.’ I was fascinated by the city’s beautiful location - right on the Ionian Sea coast, with its deep blue waters and with the island of Corfu (Greece) visible on the horizon. I was far from being the only visitor as Saranda is full of people during the summer. In fact, while the usual population is around 35,000, in July and August, this figure can swell with an influx of tourists. During 2016, Saranda registered over 700,000 visitors.
 
Saranda is not alone in this regard. Over the past years in Albania, tourism has significantly increased, especially in places like Ksamil, Saranda, and Durres. From August 2017 to August 2018, according to the national statistical office, Albania hosted 2.1 million visitors - a 16.8% increase compared to the previous year. And most of these tourists came for the sun and beaches in the summer. These figures are expected to continue to grow in the coming years. On World Tourism Day, the Ministry of Tourism and Environment even indicated that Albania aims to attract 10 million tourists by 2025!
 

Life on the Margins: experiences of LGBTI people in southeastern Europe

Linda Van Gelder's picture
Also available in: Bosanski | Shqip | Русский


At the World Bank, we know that social inclusion is not only the right thing but also the economically smart thing to do. More inclusive societies are more likely to make the most of their entire stock of human capital. More open and inclusive cities are better placed to attract international capital and talent. More open and inclusive countries make more attractive international tourist destinations.

2,300 LGBTI people from Albania, Bosnia and Herzegovina, Croatia, Kosovo, FYR Macedonia, Montenegro, and Slovenia shared their experiences in the largest-ever survey of sexual and gender minorities in the region. The research report “Life on the Margins: Survey Results of the Experiences of LGBTI People in Southeastern Europe” provides a detailed account of the responses and tells a story of discrimination, exclusion, and violence.

Growth in Central Asia hinges on creating more jobs with higher wages

Lilia Burunciuc's picture
Also available in: Русский


Jobs and wage growth have been the most important driver of poverty reduction globally, and Central Asia. In Tajikistan, for example, it has cut poverty by about two-thirds since 2003. In Kazakhstan, it accounted for more than three-quarters of income growth over the past decade — even among the poorest 20 percent. The other Central Asian nations have also achieved significant economic growth and poverty reduction in the past two decades due to income growth.

But poverty-reduction rates have slowed. In Kyrgyzstan, they began slowing during the global recession of 2008, as income growth faltered. Poverty reduction in Tajikistan leveled off in 2015, when wage growth slackened and remittances from Tajiks working overseas fell.

In Uzbekistan, more than 90 percent of the poorest households have identified lack of jobs as their most urgent priority. For these families, the prospect of increasing their income is slim, while the likelihood of transmitting poverty to their children is high.

So what should countries in Central Asian do to build on their past achievements and prepare their citizens for the jobs of the future?

What’s behind the slowing pace of poverty reduction in Tajikistan?

Alisher Rajabov's picture
Also available in: Русский


Tajikistan achieved high rates of economic growth during the 2000s (about 8% per year, on average), which doubled GDP per capita and helped reduce poverty by almost half between 1999 and 2009. But over the following decade, the rate of poverty reduction began to slow – between 2012 and 2017, poverty fell by about 7.5 percentage points.
 
While employment and growing income levels continued to slowly drive poverty reduction, a fall in the value of remittances in 2014 began weighing on the country’s performance. Since then, the poverty rate has fallen by about just 1 percentage point per year.
 
So, despite continued growth, why has the pace of poverty reduction slowed in Tajikistan?

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