GDP growth remains the primary focus of both policymakers and the media as the standard measure of economic success. However, most citzens evaluate their respective countries’ economic progress by changes in their households’ standard of living, a combination of factors encompassing income, employment opportunity, economic security, and quality of life. Designed as an alternative to GDP, the Inclusive Development Index (IDI) reflects more closely the criteria by which people evaluate their countries’ economic progress.
One of the measures of the Inclusive Development Index (IDI) is the 5-year IDI trend, which highlights the economic direction of a country - whether it is receeding, advancing or remaining stable. Trends are based on percentage change between 2012 and 2016.
Let's get a snapshot of the situation as of 2018:
Note: IDI scores are based on a 1-7 scale, with 1 being the worst and 7 the best. We split up the analysis between advanced and emerging economies because the IDI scores of the respective groups are not strictly comparable due to different definitions of poverty.