International competitiveness of Lithuania and human capital

Abstract

The main goal of any economy is to have a strong competitive position, which is increasingly dependent on human capital. The purpose of this article is to present human capital as a factor that influences the international competitiveness of the Lithuanian economy in the years 2006–2016. To achieve this goal reports WEF were used. This article consists of three parts. The first one is devoted to theoretical aspects of international competitiveness and human capital. The second part examines changes in the competitive position of the Lithuanian economy in the period 2006–2016 based on the Global Competitiveness Index prepared by the WEF. Finally, the last part presents an analysis of Lithuania’s human capital in the years 2006–2016 and the problems that occur. From the analysis of international competitiveness and human capital, it can be concluded that human capital is an important determinant of the competitiveness of the Lithuanian economy. It is also worth noting that Lithuania has been ranked among the 50 most competitive economies in the world.