Importance of Increased Percentage GDP Allocation on Education
Public education has increasingly become necessary for all communities across the globe. Different governments in the world have increased their budgetary allocations on public education. Although the private sector has equally invested in schools and colleges, it has not entirely taken over the role of government in the provision of free or affordable education. The American government allocates about 5% of its GDP on education (Borman & Hewes, 2012). Similarly, most other government has allocated a significantly lower fraction of their GDP on education. The low percentage of allocation to public education threatens the numerous benefits that communities are likely to obtain through affordable education. The following study identifies the benefits that society stands to gain by making education accessible to many people and how an increase in the GDP allocation will enhance access to education. Therefore, an increase in the current GDP allocations to the public education will potentially increase the accessibility of education to many and hence open up communities to the benefits of education.
A country is set to benefit both socially and economically by investing heavily in its educational sector. Firstly, a proper and accessible educational system will create a constant follow of the skilled workforce within the economy that is necessary to drive the economy and hence contributes to a high GDP. Secondly, the accessibility creates a safe and secure community since it engages youth who would have otherwise...
Thirdly, increased accessibility helps more people to gain access to meaningful employment and increases the country’s tax base. Moreover, it reduces the mortality rate in the community. Given the benefits of increased accessibility of education, the government should strive to promote this concept through proper funding and investment by raising the current allocation from the GDP allocation.
An increase in the percentage of GDP allocation on public education will facilitate the development of schools and colleges in the community. The global population has increased at an alarming rate in the recent past. Therefore, the increased population has placed significant pressure on the existing educational facilities. While the GDP allocations on education in many countries have not changed or even reduced in some cases, the demand for education has significantly increased because of the increasing population and the growing need for quality knowledge (White, 2015). Presently, the allocations on education in the United States are insignificant in developing additional educational facilities to accommodate the growing populations. Most developing countries are still grappling with the inadequacy of schools and colleges particularly among the rural population. Although some people have opted to seek education in other countries, the larger section of the population cannot afford such privileges and will remain uneducated. Therefore, increased allocation on education will facilitate the development of…
