The Nordic Welfare Watch was a leadership programme during the Icelandic presidency of the Nordic Council of Ministers in 2014 and consisted three main projects: Nordic Welfare Watch – in Response to Crisis, Welfare Consequences of Financial Crises, and Nordic Welfare Indicators. The project period was from 2014–2017. The goals of the programme were to find better ways to measure and monitor citizens' welfare and to explore the role of financial structures and austerity measures in mitigating the effects of financial crises in different societies, with special emphasis on the Nordic welfare societies. Another goal was to examine how well municipal social services were implemented in the Emergency Management systems and to map future welfare challenges. Five reports and two main proposals were made, one to establish a Nordic Welfare Forum and the other to publish a set of Nordic Welfare Indicators (NOVI). This report is the final report of the Nordic Welfare Watch and contains a summary of the main outcomes of the programme.