The present generation of students risks losing USD 17 trillion in lifetime earnings in present value, or about 14 per cent of today’s global GDP, as a result of COVID-19-related school closures, according to a new report prepared by the World Bank in collaboration with UNESCO and UNICEF.
The report reveals that the impact is more severe than previously thought, and far exceeds the USD 10 trillion estimates released in 2020.
The report, titled “State of the Global Education Crisis: A Path to Recovery report”, shows that in low- and middle-income countries, the share of children living in learning poverty — already 53 per cent before the pandemic — could potentially reach 70 per cent given the long school closures and the ineffectiveness of remote learning to ensure full learning continuity during school closures.
“The COVID-19 crisis brought education systems across the world to a halt. Now, 21 months later, schools remain closed for millions of children, and others may never return to school. The loss of learning that many children are experiencing is morally unacceptable. And the potential increase of learning poverty might have a devastating impact on future productivity, earnings, and wellbeing for this generation of children and youth, their families and the world’s economies,” said Jaime Saavedra, World Bank Global Director for Education.
The report pointed out that simulations estimating that school closures resulted in significant learning losses are now being corroborated by real data.
“For example, regional evidence from Brazil, Pakistan, rural India, South Africa, and Mexico, among others, show substantial losses in math and reading. Analysis shows that in some countries, on average, learning losses are roughly proportional to the length of the closures. However, there was great heterogeneity across countries and by subject, students’ socioeconomic status, gender, and grade level,” it said.
The report highlighted that, to date, less than three per cent of governments’ stimulus packages have been allocated to education and much more funding will be needed for immediate learning recovery.
