Boston Consulting Group’s Sustainable Economic Development Assessment (SEDA) tracks relative well-being of a country’s citizens and provides insight into how well a country converts its wealth into well-being. Ten dimension and fourty indicators have been assessed for 143 countries in the 2019 data set.
Income affects well-being in many ways. But it is clear that well-being is not simply a function of income. After all, we see many countries at similar income levels that have quite different well-being levels. When GDP and well-being measures are moving in different directions, it’s a sign of missed opportunities to pursue policies that can serve both goals, the report says.
Education, Health, and Infrastructure dimensions stand out as they account for a large share of public expenditure and lend themselves to decisive policy action and program implementation. In addition, there is a strong link between Education and Employment dimensions.
Countries that perform well overall in well-being and have based their progress in outstanding performance in either of the above mentioned dimensions can be a valuable source of best practices, the report suggests.
Czechia ranks 24th, reaching the highest scores for Equality, Health and Economic Stability dimensions.
Indicators used to calculate scores for SEDA’s ten dimensions come from these sources: DataBank and Worldwide Governance Indicators (The World Bank); Environmental Performance Index (Yale University and Columbia University in collaboration with the World Economic Forum); Global Competitiveness reports (World Economic Forum); Global Health Observatory (World Health Organization); Index of Economic Freedom (Heritage Foundation); Indices of Social Development (International Institute of Social Studies); Programme for International Student Assessment (OECD); United Nations; World Economic Outlook database (International Monetary Fund).
Source: Boston Consulting Group