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.
150
key actions
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.
$50m
total export revenues
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.
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
Article
May 19, 2025
International cooperation stands at a critical juncture. To remain effective, institutions can rebuild trust, streamline operations, form focused coalitions, and engage with the private sector.
Article
May 8, 2025
AI is already beginning to transform public services—streamlining processes, saving costs, and empowering workers to deliver on rising citizen expectations.
Article
April 28, 2025
In addition to their traditional advantages in cost and resources, companies in the region are now expanding globally through innovation, cultural influence, and strategic risk-taking.
Article
March 25, 2025
The digital euro could transform Europe’s economy. But unlocking its full potential requires vision, the right governance structure, and a robust digital ecosystem.
Article
February 19, 2025
Transitioning to green energy creates a healthier planet while providing countries with job growth and greater energy security. However, governments will have to make many policy tradeoffs.
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.
