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Unlocking true growth
G20: Insights from the Social Progress Index 2014
G20 provides an opportunity for leaders to discuss global economic issues and shape the world's effort to restore growth. The challenge for government now is that they need to think beyond the usual macroeconomic levers to support social progress, as growth without social progress is an empty goal.
Social Progress Index’s (SPI) mission is to improve the lives of people around the world by advancing global social progress through the provision of a robust, holistic and innovative measurement tool (the Social Progress Index), fostering research and knowledge sharing, and equipping business, governments and the not-for-profit sector to guide policies and programs.
According to the 2014 Social Progress Index, released earlier this year by the Social Progress Imperative (SPI), and supported by Deloitte global member firms:
- Australia sits 10th (of 132 countries ranked – New Zealand ranks number one, followed by Switzerland and Iceland)
- Of the 40 G20 countries, Australia ranks 6th (the Netherlands ranks one, followed by Sweden and Canada).
Australia and other G20 countries can enhance economic growth through addressing these social problems which are burdensome to economic progress. Deloitte has identified adult literacy, obesity and affordable housing as areas where Australia compares less favourably with its peer countries, and which present opportunities for governments, business and the not-for-profit sector to work together to develop innovative and sustainable solutions.