Voļskis: Youth education is the foundation of Latvia's long-term wealth

The start of the new school and academic year in September is described not merely as a calendar event, but as a moment to assess the direction of the country's economic development. Unlike nations blessed with rich underground resources such as oil, gas or precious metals, Latvia has no such natural wealth.

Human capital as the core asset

Instead, Latvia's people — their knowledge and skills — are identified as the country's principal resource. Developing and preserving this human capital depends on one essential condition: a high-quality and continuous education system.

Applying knowledge in practice

Education itself is not presented as an end goal — its value lies in ensuring that knowledge gained is put to lasting, practical use in everyday working life. This link between learning and its real-world application is considered the basis on which the country's long-term prosperity rests.

The conclusion drawn is that investment in education is not simply a social or cultural matter, but is directly tied to the nation's economic future. Without a base of natural resources, Latvia's competitiveness and wellbeing depend largely on how well young people are educated and how effectively the knowledge they acquire is applied in the labor market.