Recognizing the complexity surrounding unprecedented shifts in global power dynamics, our Center for Geopolitics cuts through the noise to bring both clarity and action to the intersection of geopolitics and business strategy, merging advanced geopolitical insights with BCG’s world-class analytical capabilities.
Our Approach to Economic Development Consulting
The dynamics around economic development are rapidly evolving, and the most crucial levers for economic development can also be the most challenging to apply. New technologies and business models are shifting economic growth to new sectors. Rising levels of inequality and increasing competition for foreign investment are adding complexity—and urgency—to achieving sustainable economic growth and well-being. Our economic development consulting team helps governments and policymakers tackle the imperatives and impediments alike.
- Innovation. Nations that innovate excel at job creation, entrepreneurship, talent, and ecosystems. But unleashing innovation requires significant investment and streamlined bureaucracy. We work with governments to develop comprehensive, long-term strategies. Case in point: helping Vietnam create its National Innovation Center, a hub for advances—and opportunities—in Industry 4.0 technologies.
- Financial Inclusion. When financial services are readily accessible, whole populations can improve their lives and open new doors. Yet 1.7 billion adults are still unbanked. We use new lenses—such as behavioral economics and geospatial mapping—to understand why people don’t, or can’t, use certain products, and to figure out how to build better solutions.
- Public-Private Partnerships. How can government and the private sector work together to drive better outcomes? We look at the factors that make—or hinder—successful partnerships, such as regulatory systems, institutional support, and the climate for foreign direct investment. Then we design solutions—such as Rwanda’s Investment Accelerator—to spark interest from private companies and spur collaboration.
Our Client Work in Economic Development
True economic development means laying a foundation for sustainable economic growth—for both a country and its citizens. The following client-impact stories highlight BCG's approach to making that happen.
Improving Financial Inclusion in Morocco. It was an all-too-common problem: seemingly accessible financial products launch, but too few people use them. BCG worked with Morocco to understand the factors behind low penetration rates, particularly among women, and to zero in on strategic levers and enablers, such as mobile payments and microfinance. We identified 150 key actions and designed a roadmap for financial inclusion that is truly inclusive.
Driving Innovation in Bangladesh. BCG developed the country’s emerging-tech Centre of Excellence (CoE) to drive innovation and talent growth at a national level. The CoE has enabled Bangladesh to position itself as a hub for emerging technology and get the country—and local companies—on the radar of global IT and business-process-outsourcing (BPO) firms. Within two years, the initiative created more than 1,500 jobs and more than $50 million in export revenues.
Center for Geopolitics
Our Economic Development Tools and Solutions
The tools we use in economic development consulting consist of cutting-edge resources and programs that help us quickly develop the optimal strategy for a particular region. Our most important tools include:
Capability
Capability
Foreign Direct Investment
As inflows tighten, attracting FDI is more challenging than ever. BCG employs an end-to-end methodology, helping countries look beyond one-off deals and develop the unique value propositions, resources, and ecosystems that catch investors’ eyes—en masse and fast.
Foreign Direct Investment
Our Partnerships on Economic Development
We partner with some of the world’s most influential global economic development organizations, collaborating to gain insights on how new—and often disruptive—ideas, technologies, and business models can further sustainable economic growth and well-being. For example, we’ve worked with the Bill & Melinda Gates Foundation to examine how cash-in/cash out systems—and mobile money agent networks in particular—can foster financial inclusion.
Explore Our Insights on Global Economic Development
Video
April 11, 2024
Creating A Digital Framework to Drive ASEAN’s Imminent Growth
Satvinder Singh, ASEAN’s deputy secretary-general, outlines a knowledge initiative that positions the association’s ten member nations for a new era of cooperation and growth.
Watch the video
Watch the video
Article
November 20, 2024
BCG’s new AI Maturity Matrix combines an economy’s exposure to AI with its readiness to handle AI disruption. Explore our assessment of 73 economies.
Article
January 27, 2025
The competition for talent is taking on a new urgency, as countries increasingly compete for skills that can give them a strategic edge beyond economics.
Article
September 30, 2024
Governments that engage in strategic cost optimization can recoup 10% of costs—or more—on a whole-of-government basis using existing tools.
Article
January 16, 2025
Addressing climate change is creating opportunities that may be worth $11 trillion by 2040. Countries that act early can position themselves for growth.
AI in the Public Sector
For more than ten years, BCG reports have analyzed the connection between a country’s sustainable economic growth and citizen well-being. This year, we explore how AI will affect economies worldwide.
Meet Our Economic Development Consultants
Our global economic development consulting experts include thought leaders in agricultural and financial technologies, digital, and agile ways of working. These economic development consultants have vast experience helping advance sustainable economic growth and well-being. Meet some of our experts on the topic.
