Education serves as the primary avenue for preparing, training, and empowering individuals, endowing them with the necessary skills for continuous innovation and creativity. It plays a pivotal role in furnishing society with the competencies required to effectively fulfill responsibilities and undertake developmental endeavors. Crucially, education enhances the cognitive capacities of individuals, enabling them to actively and competently engage in the knowledge-based society and the ongoing information revolution. This research aims to underscore the economic significance of education, highlighting that expenditures on education constitute not mere consumption but rather investments yielding substantial economic and social dividends and have a great importance in the production of knowledge. The findings of this study substantiate multiple economic benefits of education. On an individual level, a direct correlation exists between educational attainment and personal income. Moreover, education fosters heightened worker productivity, thereby contributing to a discernible upsurge in the gross national product. At the macro level, employing the method of Data Envelopment Analysis, we assessed economic efficiency across 49 countries worldwide. The study reveals that, on average, efficiency, assuming variable returns to scale (TEVRS), stood at 88.7%. Particularly noteworthy is the discovery that 14 countries, constituting 28.6% of the sample, attained maximum efficiency.