Romania showing signs of improvement in global prosperity index

Newsroom 02/11/2015 | 12:25

Romania ranked 50th globally among 142 countries in a prosperity index by the Legatum Institute, an international think tank based in London. The rankings took into consideration eight categories: the economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital.

The results were divided into four categories: highly prosperous countries (first 30 positions), upper middle countries (between 31 and 71), lower middle (between 72 and 112) and low (113 to 142).

With a median result of 62.75, Romania had the best scores for personal freedom (37), safety and security (46) and entrepreneurship and opportunity (48). Education (61), governance (63), economy (69) and health (69) all had scores above 60, while social capital dropped in the lower middle section, with 109 points.

Romania has climbed 10 places from last year (60) and five places from 2013 (55). The best score our country had was in 2009, when it ranked 48.

Norway is the most prosperous country in the world for the seventh year in a row, according to the index, due the freedom it offers its citizens, the quality of its healthcare system and social bonds between its people. Switzerland is ranked 2nd in the Index for the third year in a row while Denmark has risen from 4th to 3rd compared to last year.

Indonesia has performed better than any country in the world over the past seven years, rising 21 places up the rankings to 69th this year.  Another strong performer since 2009 is Rwanda that has risen 17 places up the Prosperity Index and now ranks 101st.

At the other end of the scale the poorest performers have been Syria (down 23 places), Tunisia (down 28 places) and Venezuela (down 16 places).

According to the study, Singapore is the most successful economy in the world. This year Singapore ranks first on the Economy sub-index. The country has the second highest capital per worker in the world: USD 240,750 per worker. 47 percent of the country’s manufactured exports are classified as ‘high-tech’, the third highest in the world.

The UK is an increasing world-leader in entrepreneurship. The UK ranks 6th for Entrepreneurship & Opportunity. The country now ranks as the best place in Europe to start a business and 88 percent of Britons believe that if you work hard you can get ahead in life, up from 84 percent last year and 78 percent in 2010.

Canada is the new ‘Land of the Free’. Canada is the now the freest country in the world, having risen five places to first on the Personal Freedom sub-index. The country is the most tolerant of immigrants in the world – 92 percent of people think that the country is a good place for immigrants. 94 percent of Canadians believe that they have the freedom to choose the course of their own lives.

The least prosperous countries are predominantly found in sub-Saharan Africa, with the Central African Republic bottom of the rankings for a second year in a row. Six of the bottom ten countries are in Sub-Saharan Africa. However, many countries in the Middle East also perform poorly: Afghanistan is ranked second from bottom (141st), Syria is ranked 136th and Yemen is ranked 135th.

People in the majority of countries in Latin America do not feel safe, or trust their government, or the law. Only 22 percent of people in Venezuela feel safe walking alone at night – the lowest in the world. Across the region fewer than 50 percent of people feel safe, trust the law, or approve of their government.

Natalia Martian

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