Like last year, Norway is ranked on 1st place in this year’s Inclusive Development Index (IDI). The IDI is an annual, multidimensional assessment that measures the economic performance of 103 countries. The project is a part of the World Economic Forum, and aims to inform and enable inclusive and sustained economic progress.
Norway has had a consistently strong performance over the years. In the three pillars of evaluation, it ranked second on intergenerational equity and sustainability, and third on the two other pillars (inclusion, and growth and development). The other Nordic countries are also performing well on the ranking of advanced economies. Norway’s 1st place is followed by Iceland on 2nd place, Denmark on 5th, Sweden on 6th and Finland on 11th place.
The IDI is designed as an alternative to GDP, as conventional measurements of economic development often focus on economic growth alone. The IDI offers a more inclusive and nuanced measurement of economic performance, such as the criteria that people themselves evaluate in their countries’ economic progress.
Read more about this year’s ranking: https://www.weforum.org/reports/the-inclusive-development-index-2018/