Human Capital Assessment in Indigenous Regions to Enable Sustainable Futures

This study is dedicated to the economic valuation of human capital in the regions where the Indigenous peoples of Kamchatka reside. The entire Kamchatksky Krai is considered an Indigenous people's ancestral territory. However, in this study, only municipalities whose population is more than one-third Indigenous were chosen for the assessment. This includes six municipal districts and one urban district (Aleytsky, Bystrinsky, Karaginsky, Olyutorsky, Penzhinsky, Tigilsky municipal districts and Palana urban district). The study employs statistical analysis and integrated, situational approaches: the investment approach was deemed the most appropriate tool for the economic assessment of human capital in Indigenous territories. The document analysis was based on a content analysis of open-access government documents and included legal acts, resolutions, orders, and other documents issued by federal, regional, and local authorities and pertaining to the economic activities of Kamchatka Indigenous peoples. Based on proposed calculation algorithm the assessed combined monetized value of human capital for the Kamchatka territories with large Indigenous populations at 38.8 billion rubles (approximately 520 million U.S. dollars) in 2021. It was observed that the growth of human capital in the Indigenous areas of Kamchatka between the years 2017 and 2021. The mean regional value of human capital per capita increased by more than twofold over this period. The accurate and precise assessment of human capital in the Kamchatka Indigenous homelands is provides baseline information necessary for the decision-making about economic development and sustainable development policies, and the approach proposed in this paper can be utilized by the Indigenous communities worldwide.