Significance of South African Learning Institutions in Comparison to the Global Economy

South Africa is a prominent global player and the gateway to Africa's economy. However, the economy still lags behind in terms of innovation and research. To remain relevant, South Africa needs to keep abreast with the rest of the world. In the face of the fourth industrial revolution, keeping up with the future is not an easy task for a developing economy, as it should be providing infrastructure for human capacity development. This study compares South Africa with other countries (developed or other developing countries) in order to assess the readiness of the economy in terms of capacitating entrepreneurs and the workforce. The education sector is of essence to the economy, as it comprises institutions that enable economic actors. The study employs secondary data to make the comparison and a number of tables and figures were generated from data collected from the global economic forum, Statistics South Africa and official government documents. Quantitative and qualitative data is derived from these secondary sources. The finding validates that South Africa has made significant efforts to avail the people with technology. However, there is still the issue of access. Some areas in the country do not have access to up-to-date technology and institutional support is required to capacitate the people. Technology and relevant institutions are important in building a future labour force and also in terms of involving South Africans in the creation of future jobs, instead of just preparing them for current jobs that are in danger of being phased out. Among the solutions suggested by the study is that liberal arts enable students to learn about their future and create their own employment.