One particular metric BCG uses is growth-to-well-being coefficient on which Pakistan scores 0.87, higher than India's 0.77 and China's 0.75. Among South Asian nations, Bangladesh scores much higher at 1.03. The top ten countries in “current well-being” remain in Western Europe.
The BCG report quotes American economist Simon Kuznets, the creator of the concept of GDP in 1934, who said: "The welfare of a nation can scarcely be inferred from measurement of national income". It uses SEDA (sustainable economic development assessment) to score and rank countries.
The report uses 5 years worth of GDP growth data up to 2014 and compares it with improvements in citizens' well-being in the same period.
On the question of the ability to translate GDP growth to citizens'…