Economic growth = More prosperity? GDP per capita ("material prosperity") in Switzerland grows at half the rate of absolute GDP ("economy").
GDP per capita – a good proxy for a country's prosperity – thus grew at nearly half the rate of the entire economy (absolute GDP), which is reflected in the annual growth rates (CAGR, see notes): While the overall economy grew at a CAGR of 1.86% from 2000 to 2024, material prosperity grew by 0.94%.
GDP per capita – a good proxy for a country's prosperity – thus grew at nearly half the rate of the entire economy (absolute GDP), which is reflected in the annual growth rates (CAGR, see notes): While the overall economy grew at a CAGR of 1.86% from 2000 to 2024, material prosperity grew by 0.94%.