Frost Radar for Economic Development: Global, 2023

United States, Singapore, and Norway Lead in Growth and Innovation

The Frost Radar for Economic Development determines a region's future growth and development potential by measuring its ability to enhance its citizens' quality of life (QOL). This report explores key strengths and weaknesses of the global economy through country-level assessments of growth and innovation initiatives and then benchmarks each country on these 2 indices. 2022 was marred with multiple exogenous pressures, such as geopolitical tensions, increased volatility, inflationary pressures, tightening credit conditions, and historically high levels of uncertainty. Consequently, global growth is likely to remain subdued in 2023.

The ‘Frost Radar for Economic Development: Global, 2023’ diagnoses the significant challenges to the global growth environment, including persistent inflation levels, rising debt burdens, and weak fiscal health. In addition, by measuring performance against the major sub-pillars of innovation in education, healthcare, environment, infrastructure, human rights, and security, the Frost Radar offers broad-based insights into the global economic pulse. It also identifies key drivers underpinning global growth momentum, such as a boost to fiscal spending and green investments. In this research, Frost & Sullivan indexes the top 10 economies worldwide to determine what makes them global leaders. The Radar is intended to empower governments, policymakers, investors, and businesses to identify strategic imperatives for future growth.