SL slips in World Prosperity Index but best in South Asia

Tuesday, 11 November 2014 02:06 - - {{hitsCtrl.values.hits}}

Sri Lanka has slipped for the second consecutive year in the World Prosperity Index compiled by Legatum Institute. As per the latest measurement of well-being of country’s people and its wealth, Sri Lanka was placed at number 62, down from 60th last year and 58th in 2012.

In 2009 Sri Lanka was ranked 68 and improved to 59 in 2010 and fell to 63 in 2011 before moving up again to 58th in 2012. However, within South Asia, Sri Lanka’s ranking is the best with Nepal was ranked 96th, India 102nd, Bangladesh 104th, Pakistan 127th and Afghanistan 137th. The Index uses rigorous research and in‐depth analysis to rank countries based on their performance in eight sub‐indices – Economy, Entrepreneurship & Opportunity, Governance, Education, Personal Freedom, Health, Safety & Security and Social Capital. The Legatum Institute, a charitable public policy think-tank whose mission is to help people lead more prosperous lives, said over the last six years, the world has become more, not less, prosperous. The 2014 Index reveals Norway as the most prosperous country for the sixth year in a row, retaining its place due to its high ranking in the Economy (3rd), Health (5th), Education (5th), Governance (7th), and Personal Freedom (2nd) sub-indices. Switzerland is ranked 2nd in the Index for the second year in a row while New Zealand has risen from fifth to third since last year. The UK is the most prosperous of all the leading major EU nations, coming ahead of Germany (14th), France (21st), Spain (26th) and Italy (37th). The least prosperous countries are predominantly found in sub-Saharan Africa, with the Central African Republic bottom of the rankings, followed by Chad and Congo (DR). The Prosperity Index covers 142 countries in the world, accounting for 96% of the world’s population and 99% of global GDP, making it the most comprehensive tool of its kind.