A socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and sporting, public, and cultural events.

The Roscongress Foundation – a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and sporting, public, and cultural events.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 2,500 people working in Russia and abroad. In addition, it works in close cooperation with 122 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 69 countries worldwide.

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Research
17.08.2018

The Future of Gross Domestic Product (GDP)

The world we are living in today is radically different from the one where GDP as a concept was introduced. Those were days of wars and an economic crisis, with the economic development much more locally oriented than it is now when the globalization and the digital revolution have made the world smaller and less tangible and the countries much more interdependent. We now have virtual, non-material products, such as cloud-based digital music or software obtained by purchasing access to it. The so-called «sharing economy» has emerged, while automation is penetrating most sectors of the economy.

All these phenomena raise the question: is GDP important today? Can we measure progress using statistics based on GDP?

According to Credit Suisse analysts, GDP as an indicator has ceased to reflect global changes in the economy, so we must find an alternative. The report indicates that economic statistics are badly distorted by the developing digital technologies and the constantly emerging new business models and new private business sectors related to these new technologies. Besides, the experts point to some issues in statistical recording associated with the cross-border nature of digital activities.


The report underlines that economic policy should be targeted at reaching a high «happiness index» of the population. This indicator must take into account not only material wealth but also environmental protection, social interaction, and technological development.


Source
Release date
31.05.2018
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