The Dubai Future Foundation (DFF) has released a groundbreaking report, The Future of Progress, advocating for a new global metric to measure national success beyond the traditional reliance on gross domestic product (GDP).
The report emphasizes the need for a broader, more comprehensive framework to assess progress, highlighting quality of life, health, education, and sustainability as key indicators.
GDP, which has been the primary measure of national progress for nearly 80 years, focuses on the economic output of goods and services. However, DFF, in a previous report, The Global 50, suggested that GDP alone is insufficient for understanding a nation's true success.
Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and Managing Director of DFF, called for a rethinking of the current GDP model, emphasizing the need to incorporate well-being, innovation, and environmental sustainability into the global narrative of progress. He stated,
“This report aims to launch a global dialogue on expanding the parameters of GDP and creating new frameworks for evaluating national growth.”
The report outlines four potential global scenarios for transitioning beyond GDP, considering national priorities, technological advancements, and regional contexts. It proposes global recommendations, including establishing a definition of progress, forming a working group, and selecting pilot sites for testing new metrics.
DFF’s research involved collaboration with international organizations and academic institutions, underscoring the global effort needed to redefine success. Experts from the United Nations, the World Bank, and leading universities participated in the development of the report’s framework.
This initiative marks a significant step towards reshaping how countries evaluate progress in an ever-evolving global landscape.
News Source: Emirates News Agency
