Germany’s dual education system could make the world $1.1 trillion richer, according to a new study by the Global Business Coalition for Education. The system, which combines classroom learning with on-the-job training, is being hailed as a solution to the global youth unemployment crisis. The study found that if the rest of the world adopted a similar approach, youth unemployment could be reduced by 22%.
In Germany, nearly 60% of young people opt for vocational training after leaving school. The country’s youth unemployment rate is just 7.7%, compared to an average of 13.9% in other developed countries. The dual education system is seen as a key factor in this success, providing young people with practical skills and experience that make them more employable.
However, the system is not without its critics. Some argue that it funnels young people into specific careers too early, limiting their options later in life. Others point out that it is heavily reliant on the cooperation of businesses, which may not be feasible in countries with less stable economies. Despite these concerns, the potential economic benefits of the dual education system are hard to ignore.
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