Education is a powerful force that can accelerate economic growth, improve income distribution inequalities, facilitate social mobility, and reduce poverty, all of which should be a priority on the global political agenda.

Education systems in many Mediterranean countries are producing graduates with skills that do not match those required by business nor those that are needed in a competitive labour market. This means we have a generation of graduates without adequate education and training to contribute productively to the economy. To solve this pressing issue, governments, companies and the educational world must join forces to align skills with needs. A new paradigm is needed and only by working  together in a multiple association can we aspire to have significant results.

The Mediterranean must be prepared to handle the global battles of innovation, knowledge and sustainability. The most immediate economic priority in the region is the creation of sufficient productive and sustainable jobs for the Mediterranean youth. At the same time, we must equip the incoming generations with the combination of talents and skills that will make them more competitive in the digital revolution and industry 4.0.

Young people are poised to move society and the economy forward. However, without access to quality education and training opportunities, they cannot participate in the 21st century workforce.

The main key to innovation is training: companies that invest in providing their employees with the right skills are the ones that grow; governments must rebalance spending, besides investing in tangible infrastructure, and bet in the same way on intangibles such as education, research and development;

Universities must reduce the gap between the classroom and the companies, through practical programs that develop skills for business creation, decision-making and risk management.

The challenge is to build together a society based on knowledge and innovation with equal opportunities for men and women.

The region is now at a crossroads where it needs to strike the right balance between supporting private sector development and the creation of new jobs and protecting existing jobs and current workers. Investment in human capital must evolve and intensify for the benefit of all. A company can only exist and remain innovative if it takes its role in education very seriously.

Mediterranean countries have long focused on building their economies, but now they are also starting to make education a priority, often with spectacular results. Countries and companies must attract those with the greatest potential and train the talents of tomorrow. The time has come to rethink higher education, raise awareness and train future students with high potential, in the different facets of this new economic and social leadership.

This session will provide an overview of the main issues that policymakers should onsider when formulating labour and education. The question is: what impact will these transformations have on business leadership in the future? And what does this mean for the education of future leaders?