Addressing Human Capital Development Challenges in Developing Countries Using an Interval-spherical Fuzzy Environment

This study evaluates and ranks the challenges of human capital development in developing countries based on their severity. Human capital development is crucial for economic growth, as acquiring knowledge, skills, and abilities plays a vital role in advancing these countries. However, various challenges impede the ability of developing countries to invest in human capital. Six key challenges were identified through a review of existing literature and expert insights. To analyse these challenges, the Stepwise Weight Assessment Ratio Analysis (SWARA) method within an interval-valued spherical fuzzy (IVSF) framework was utilized. The findings reveal that high unemployment, low literacy and education levels, and inadequate investment in skills development are the most significant challenges. Based on these results, the study offers actionable recommendations for governments seeking to enhance human capital development in these countries.