Nº 8 advantage
A country with talent
Foreign investors highlight human capital as one of Chile’s main comparative advantages, drawing attention to the high standards achieved by the country’s universities and schools.
Wednesday, July 29, 2009
Foreign investors often highlight human capital as one of Chile’s main comparative advantages, drawing attention to the high standards achieved by the country’s universities and, particularly, its business schools.
Chile’s higher education system comprises universities, professional training institutes and technical training centers. There are currently a total of 156 institutions of higher education of which 58 are universities, 39 are professional training institutes and 59 are technical training centers (offering two-year courses). There are more than 978,000 students enrolled in higher education, up by 100% on a decade ago. Out of this total, 61% are studying at one of the country’s universities while the remaining 39% are taking technical courses.
In the Academic Ranking of World Universities (ARWU), published since 2003 by the Center for World-Class Universities (CWCU) of Shanghai Jiao Tong University, two Chilean universities - the Universidad Católica de Chile (PUC) and the Universidad de Chile - are classed among the 500 best in the world and the former among the ten best in Latin America.
Reflecting its progress in these indicators, Chile today has a labor force of 8.1 million people of whom 94% are employed. Out of this total, 63% work in the services sector. In the case of the quality of its labor force, Chile took 31st place out of 60 economies in the Global Talent Index 2011-2015 calculated by the Economist Intelligence Unit (EIU) to measure support for talent and entrepreneurship.