The
Legatum Prosperity Indexbenchmarks 142 countries around the world in eight distinct sub-indices: economy; education; entrepreneurship and opportunity; governance; health; personal freedom; safety and security and and social capital.
While global prosperity continues to rise, the UK was listed 16th, down three places in the overall prosperity rankings since last year.
Germany (14th) has recorded the highest increase in overall prosperity in Europe since 2009 – bypassing the UK.
The majority of European countries are becoming more prosperous, with ex-communist nations Slovenia (24th), Czech Republic (29th), Estonia (36th) and Slovakia (38th) all experiencing significant increases in prosperity.
Norway leads the overall rankings for the fifth year and is joined in the top ten by Switzerland (2nd), Canada (3rd), Sweden (4th), New Zealand (5th) and Denmark (6th).
Launched in 2008, the Legatum Prosperity Index annually assesses 142 countries, representing more than 96% of the world’s population and 99% of the world’s GDP.
Jeffrey Gedmin, President and CEO of the
Legatum Institute, said: “Since the inaugural Legatum Prosperity Index the world has seen a continuous increase in prosperity with citizens in many countries experiencing improving wealth and wellbeing.
“But we cannot afford to be complacent.
"Issues of war, governance and personal freedom continue to dog the Middle East and parts of Africa. Leading nations are not exempt, with the US and UK experiencing poor performance in the rankings in recent years.”
The
Legatum Institutehas highlighted twenty countries that are predicted to move up the rankings by 2020 if they continue on their current path.
This ‘20:20 Vision’ is made up of nations that are regional or sub-index leaders.
Included on this list are Bangladesh, which has improved in seven sub-indices, and Kazakhstan, which has risen seven places to 47th in the overall rankings since 2009.
Trinidad and Tobago and Slovakia are also listed, having experienced increases in prosperity and strong economic growth, as well as taking positive strides to overcome national challenges.