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BCG relies on Sustainable Economic Development Assessment (SEDA) scores to measure how well a country translates its wealth, or income, into the overall well-being of its population; this year, the UAE pulled ahead of the GCC and the rest of the world in regards to its recent progress in governance
Dubai, June 2, 2015
According to a new report by <http://www.bcg.com/>The Boston Consulting Group (BCG), the UAE outperforms the GCC and the rest of the world in most dimensions including income, employment, health, education, infrastructure, income equality, civil society, governance, and environment when it comes to its current-level Sustainable Economic Development Assessment (SEDA) scores. Across these dimensions, the UAE topped the average scores of both the GCC and the rest of the world.
The only dimension in which the UAE lags behind is economic stability. Interestingly, compared to the GCC region and the rest of the world, the UAE showed the strongest recent-progress score in governance among the ten dimensions.
These findings were revealed by BCG in the consulting firm’s latest SEDA study. The fact-based, comprehensive analysis measured the relative well-being of 149 countries including the UAE, Kuwait, Qatar, Bahrain, Oman, and the Kingdom of Saudi Arabia and their performance in converting wealth to well-being along social and economic indicators.[1] This year’s results highlight a new global divide and point to the fact that more than half of the world's population lives in countries that are falling behind in sustainable development. They also challenge the conventional wisdom regarding the expected growth patterns for middle-income countries.
SEDA defines well-being through three elements economics, investments, and sustainability that cover ten key areas, or dimensions, including economic stability, health, governance, and environment. In total, the assessment draws on nearly 50,000 data points. SEDA scores countries in two ways: as a snapshot the current level of well-being and as the amount of recent progress gained in well-being during the period of 2006 to 2013.
THE UAE IN FOCUS
The UAE outperforms the average of the GCC and the rest of the world in both current-level and recent-progress scores in governance. The fact is, in the governance dimension, the UAE is higher and moving further ahead compared to the rest of the world.
In other dimensions such as employment, infrastructure, income, income equality, and education, the UAE is higher but losing ground. Based on BCG’s SEDA analysis, the UAE is lower but improving in health and lower and falling further behind in economic stability when stacked up against the average of the GCC.
“The UAE must focus on reversing the recent backward trend on a number of its dimensions or risk falling behind other GCC states,” said Douglas Beal, a Partner & Managing Director at BCG Middle East and a coauthor of the report. “The UAE’s strong and improving governance score serves as a basis to support future progress and advancements. Overall SEDA provides a powerful diagnostic foundation which can be used to help identify policy priorities.”
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