Legatum Prosperity Index 2022

The Legatum Institute releases an annual ranking called the Legatum Prosperity Index. Starting in 2007, the Legatum Prosperity Index ranks countries and cities on a wide range of indicators of prosperity, such as GDP growth, the standard of living, access to healthcare, and levels of educational attainment.

Its goal is to help countries see where they excel and where they need improvement so that they may make economic decisions that will result in more prosperous, equitable, and open societies.

The measure takes into account 104 distinct factors across which 167 nations were evaluated. Freedom, security, education, and health care are all strong points of the world’s wealthiest nations.

These nations also have conducive natural settings, advantageous business rules, and well-developed market infrastructures that all contribute to their economies’ overall success.

Table of Contents

1. Denmark

In the 2019 rankings, Denmark displaced Norway at the top. In terms of quality of life, personal freedom, and social capital, Denmark scored second, while the country’s leadership performed third best. Denmark is the world’s happiest and second-most peaceful nation.

Two factors that contribute to Danes’ contentment and security are the country’s high degree of equality and its strong feeling of responsibility for social welfare. Furthermore, Denmark’s low rates of political and economic corruption are major factors in the country’s good governance score.

2. Norway

Norway has been knocked from the top spot on the Index for the new year. When comparing factors like freedom, government, and social capital, Norway comes out on top. Norway, like Denmark, is a welfare state that provides for its residents in a variety of ways.

With a high HDI of.953 thanks to its long life expectancy, high per capita income, and high levels of education, Norway is the most developed country in the world.

3. Switzerland

The Legatum index ranks Switzerland third overall. In terms of both physical and financial security, Switzerland comes in at the top of the list. With a Human Development Index (HDI) value of second-to-only Norway, Switzerland is among the world’s most advanced countries.

Residents of Switzerland have some of the world’s finest medical treatment, leading to a long and healthy life expectancy of 83 years and 6 months.

The prognosis for Switzerland’s economy is bright, and the country is well-known for its advanced infrastructure and reliable institutions. Switzerland is also home to some of the world’s most stunning landscapes and ranks high on lists of environmentally-conscious nations.

4. Sweden

According to the Legatum, Sweden is the fourth-best country. In terms of economic and social progress, Sweden is among the world’s top countries. The natural environment is first, the standard of life is third, and individual liberty is fourth best in the world.

Life expectancy in Sweden is high at 82.7 years, and all individuals have access to high-quality, publicly-funded healthcare at no cost to them. Sweden has a thriving economy that is both globally competitive and varied, with a persistent trade surplus and very low unemployment.

5. Finland

In terms of its natural environment, Finland is in second place, and it is often considered to be one of the most environmentally friendly nations in the world.

Finland has excellent scores in the areas of environmental health, air quality, and water and sanitation on the Environmental Performance Index. When it comes to governance and individual freedom, Finland is among the top three.

6. The Netherlands

The Netherlands is ranked #6 on the Legatum index, with a #2 score for quality of life and #4 for governance, market access, and infrastructure.

The GDP per capita in the Netherlands is considerable, ranking in at number seventeen in the world, and the country is the eighth biggest exporter of commodities worldwide.

In addition, the Dutch enjoy a high standard of living due to their extensive education system, low unemployment rate, and positive attitude toward work-life balance.

7. New Zealand

New Zealand is a standout example of a country with remarkably stable economic, political, and social conditions. When it comes to encouraging investments, New Zealand comes in at #3, while its governance rates are #5.

There has been little change in the economy as a result of political instability or poor leadership. New Zealand recognises the importance of business owners and financiers to the growth of its economy, thus the government makes steady investments in their infrastructure.

8. Germany

As for the Legatum index’s overall rankings, Germany comes in at number eight, although it does rather well in terms of business climate (fourth) and economic quality and standard of life (fifth). Germany’s economy is the biggest in Europe and the world’s fourth largest.

Exports of cars, drugs, electronics, and equipment have helped establish the nation’s reputation as a global leader in innovation and technical development. Moreover, Germans enjoy a high standard of living because of their country’s excellent public healthcare system.

9. Luxembourg

The Legatum index ranks Luxembourg as the ninth-best nation in the world. When it comes to access to markets, infrastructure, and the overall feeling of safety and security in the world, Luxembourg comes in at a close second.

The Gross Domestic Product of Luxembourg is rising at a healthy rate, and the nation has the highest GDP per person in the world. In addition, Luxembourg is a highly secure nation to live in.

Luxembourg’s crime rate is quite low compared to the rest of Europe, with the majority of crimes being acts of petty theft.

Also See: Least Developed Countries 2022

10. Iceland

According to the Legatum Prosperity Index, Iceland is the tenth most affluent nation. Relationships, social norms, and citizen engagement all contribute to Iceland’s high social capital ranking. As a country with little class conflict, Iceland has gained a reputation for its egalitarian society.

The Icelandic government provides free healthcare and higher education to all residents as part of the country’s welfare state, making it a mixed economy.

Both physical security and independence are highly regarded in Iceland. Despite being one of the world’s most peaceful nations, police officers in Iceland do not often carry concealed weapons.

Country	2019 Rank	2018 Rank	Economic Quality	Education	Enterprise Conditions	Governance	Health	Investment Environment	Living Conditions	Market Access & Infrastructure	Natural Environment	Personal Freedom	Safety & Security	Social Capital
Denmark	1	2	8	3	7	3	8	6	1	8	10	2	5	2
Norway	2	1	12	11	9	1	5	2	7	15	7	1	2	1
Switzerland	3	3	2	12	3	7	3	13	4	7	5	12	1	8
Sweden	4	4	4	17	13	6	15	10	3	5	1	4	11	9
Finland	5	5	21	6	18	2	26	7	6	10	2	3	17	4
Netherlands	6	6	6	8	8	4	9	12	2	4	54	5	12	6
New Zealand	7	7	19	10	14	5	22	3	26	21	6	10	13	7
Germany	8	9	5	21	4	9	12	15	5	11	17	13	21	13
Luxembourg	9	8	7	33	16	8	19	22	9	2	9	8	3	21
Iceland	10	11	16	13	30	13	7	25	20	12	8	6	6	3
United Kingdom	11	10	15	15	6	11	23	4	8	9	24	15	16	14
Ireland	12	12	3	16	10	14	20	23	12	23	14	9	14	12
Austria	13	15	22	22	19	15	10	11	13	17	3	17	9	11
Canada	14	13	38	5	15	10	25	14	16	19	15	7	18	10
Hong Kong	15	14	9	4	1	16	6	5	14	3	28	41	4	28
Singapore	16	16	1	1	5	25	1	1	10	1	91	95	7	18
Australia	17	17	31	9	21	12	18	9	21	29	19	14	26	15
United States	18	18	17	14	2	21	59	8	29	6	25	22	58	16
Japan	19	19	26	7	11	18	2	17	19	13	23	31	10	132
Malta	20	20	14	35	22	23	14	33	11	33	41	18	19	17
Estonia	21	22	11	18	20	19	55	20	28	24	13	25	33	38
Belgium	22	21	33	19	17	17	24	24	18	16	47	16	29	45
France	23	23	37	29	26	20	16	18	17	14	16	23	30	41
Taiwan	24	24	25	28	12	24	31	19	41	27	88	26	8	49
Spain	25	25	47	23	29	27	13	27	15	22	43	19	32	30
Portugal	26	26	49	39	28	26	30	31	27	25	45	11	25	53
Slovenia	27	27	29	24	40	33	32	41	23	26	4	27	23	40
Czech Republic	28	28	13	26	35	31	28	26	32	35	18	32	20	112
South Korea	29	29	10	2	33	30	4	21	25	20	75	46	35	142
Italy	30	30	52	31	25	39	17	40	24	32	48	29	24	56
Israel	31	31	18	25	24	22	11	16	22	30	121	72	129	57
Slovakia	32	33	32	48	49	40	43	30	33	44	12	35	27	76
Lithuania	33	32	35	27	36	34	92	32	38	37	27	38	28	141
Cyprus	34	36	50	36	41	32	29	44	30	31	79	24	43	81
Latvia	35	35	34	30	37	37	87	34	40	40	11	39	34	130
Poland	36	34	39	34	32	38	40	38	31	42	62	62	22	111
Chile	37	37	51	46	39	28	70	37	44	34	55	28	66	65
Costa Rica	38	40	60	55	46	35	36	53	55	60	33	21	48	51
Uruguay	39	39	69	57	66	29	34	43	46	59	52	20	41	58
United Arab Emirates	40	38	20	49	23	44	47	29	42	18	132	138	49	20
Malaysia	41	44	27	42	27	54	39	28	65	41	39	119	85	29
Greece	42	46	88	41	34	41	33	93	39	38	29	43	42	114
Qatar	43	42	24	64	31	56	48	47	43	28	113	135	15	23
Mauritius	44	41	59	62	44	36	54	35	56	56	112	37	38	35
Croatia	45	43	48	47	89	46	57	55	34	39	31	49	31	136
Hungary	46	45	30	45	57	72	52	45	37	45	30	89	39	90
Romania	47	47	40	61	72	47	71	36	64	47	58	57	40	116
Seychelles	48	50	44	67	54	51	38	65	68	54	61	64	52	36
Bulgaria	49	48	36	43	53	58	65	60	49	58	76	69	61	123
Montenegro	50	51	80	52	52	50	91	49	52	50	105	55	46	73
Panama	51	49	42	91	79	60	45	61	78	48	36	48	47	70
Serbia	52	52	73	44	64	71	72	74	47	61	99	77	44	96
Georgia	53	55	77	54	47	49	90	39	94	49	142	53	71	122
Trinidad and Tobago	55	56	66	69	95	57	77	77	53	69	119	40	67	74
Peru	56	57	62	63	68	67	60	54	98	78	26	45	74	144
China	57	60	23	56	38	91	21	48	66	52	147	159	108	34
Bahrain	58	54	61	59	45	90	53	46	36	36	135	156	127	19
Argentina	59	63	108	53	123	53	46	84	60	89	50	30	93	113
Oman	60	59	68	72	48	85	61	59	62	43	154	142	36	33
Armenia	61	68	91	51	60	75	67	56	79	67	108	83	75	75
Kuwait	62	58	41	85	83	93	51	78	35	51	116	115	68	50
Indonesia	63	61	58	88	62	62	97	64	106	88	69	103	96	5
Jamaica	64	62	112	82	63	52	50	63	67	79	139	34	118	85
Albania	65	64	113	50	65	70	69	69	90	63	73	75	62	120
Thailand	66	65	28	79	76	105	35	57	75	55	111	120	128	27
Mexico	67	67	45	74	75	80	37	66	81	53	78	68	140	118
Kazakhstan	68	66	53	38	70	87	84	51	59	77	133	139	89	72
Brazil	69	69	102	90	98	66	58	73	63	86	21	42	111	133
Bosnia and Herzegovina	70	73	83	65	111	101	93	85	48	80	122	92	51	89
Saudi Arabia	71	72	56	68	43	86	68	70	58	46	144	158	120	43
Colombia	72	70	75	73	77	68	44	71	83	68	32	74	153	97
Belarus	73	71	54	32	87	123	76	81	45	73	86	145	76	143
Russia	74	74	43	20	80	99	103	76	57	70	44	144	139	101
Sri Lanka	75	80	109	66	61	73	49	101	103	95	53	80	126	24
Botswana	76	78	46	100	73	43	119	75	112	96	100	56	82	86
Cape Verde	77	76	105	102	99	59	79	116	102	113	35	33	54	48
Dominican Republic	78	75	70	97	94	95	85	86	88	74	65	52	124	82
Paraguay	79	83	79	103	144	94	81	94	76	92	22	76	69	55
Ecuador	80	86	100	70	143	109	63	100	89	84	56	59	73	92
Moldova	81	88	111	60	101	84	96	82	74	65	134	98	84	105
Suriname	82	82	98	101	121	82	106	138	72	94	20	50	55	68
South Africa	83	77	71	104	51	48	133	72	109	81	143	36	136	47
Philippines	84	87	55	83	74	79	101	92	115	75	51	70	148	25
Vietnam	85	85	57	76	100	114	42	109	86	72	92	140	94	31
Jordan	86	81	126	96	59	74	80	58	61	66	151	121	90	107
Mongolia	87	90	96	58	92	63	100	103	108	121	130	63	59	67
Kyrgyzstan	88	89	87	77	106	100	89	98	93	120	60	100	65	37
Namibia	89	79	107	120	86	42	126	79	114	90	77	51	56	60
Guyana	90	91	124	92	107	76	116	96	82	101	74	65	81	79
Turkey	91	84	67	80	58	111	64	50	54	57	110	146	149	147
Azerbaijan	92	97	94	75	55	115	66	62	70	71	148	152	107	125
Sao Tome and Principe	93	93	85	108	91	77	104	130	117	117	57	44	37	62
Belize	94	92	114	98	116	92	95	128	85	99	42	60	72	128
Tunisia	95	98	106	94	104	65	94	97	77	82	146	88	122	140
Ukraine	96	99	99	37	71	81	114	113	69	87	127	85	145	148
Cuba	97	94	86	40	153	135	27	90	80	98	94	155	95	46
El Salvador	98	96	93	109	90	78	86	88	91	93	156	71	125	99
Guatemala	99	100	74	117	108	107	98	89	113	76	89	79	116	64
Morocco	100	95	92	116	84	98	110	68	95	62	117	118	57	163
India	101	105	81	113	42	45	109	80	120	85	164	101	135	77
Ghana	102	101	142	111	69	55	117	106	116	115	101	47	99	59
Uzbekistan	103	104	65	81	129	148	41	87	100	103	160	147	63	22
Lebanon	104	102	136	84	78	122	82	102	51	83	140	107	144	146
Bolivia	105	106	127	95	150	125	108	115	99	119	34	73	77	119
Rwanda	106	108	84	128	50	64	105	42	145	105	97	114	121	71
Honduras	107	107	95	115	113	127	83	95	110	100	82	97	130	66
Turkmenistan	108	109	63	78	142	154	62	91	84	109	165	162	79	39
Nicaragua	109	103	115	114	138	137	78	105	105	97	63	113	104	106
Algeria	110	110	129	87	140	116	73	136	71	104	131	134	53	149
Senegal	111	111	125	142	88	61	122	124	118	125	103	61	100	54
Gabon	112	113	104	99	103	130	129	112	107	107	59	112	102	145
Kenya	113	112	135	105	67	83	115	67	132	106	129	106	147	44
Tajikistan	114	115	148	89	122	141	74	117	104	131	136	149	86	26
Nepal	115	114	89	119	128	104	118	127	126	142	137	67	78	91
Laos	116	118	82	106	117	133	123	135	123	116	40	151	60	102
Equatorial Guinea	117	116	64	125	120	128	159	122	111	114	37	154	83	63
Zambia	118	119	153	126	82	97	128	108	144	138	38	108	87	80
Iran	119	117	101	71	149	138	88	126	73	110	152	163	131	129
Tanzania	120	122	118	134	112	96	124	120	135	130	67	109	113	100
Djibouti	121	123	78	141	93	121	120	99	124	111	145	130	112	104
Cambodia	122	120	76	124	146	156	99	125	129	102	83	127	114	87
Papua New Guinea	123	121	103	140	109	113	147	111	160	129	70	54	106	121
Myanmar	124	124	97	110	105	140	107	145	131	108	46	129	154	32
Gambia	125	128	158	136	124	112	142	119	127	134	85	111	88	42
Egypt	126	129	143	107	85	143	111	107	87	91	157	161	150	127
Bangladesh	127	125	120	122	96	131	113	143	119	122	149	116	141	78
Malawi	128	126	139	146	115	88	135	121	157	135	72	78	91	156
Comoros	129	127	145	147	130	136	132	153	128	144	104	94	45	103
Ivory Coast	130	134	90	149	110	106	155	114	133	124	96	96	132	150
Benin	131	133	140	148	102	89	145	146	147	133	118	66	64	160
Eswatini	132	131	116	131	126	134	146	104	122	123	138	148	92	134
Lesotho	133	130	117	123	125	102	163	129	140	127	159	87	98	126
Burkina Faso	134	132	141	152	119	108	138	133	148	155	98	58	117	124
Uganda	135	135	132	137	81	118	140	83	143	136	125	117	133	139
Liberia	136	136	152	156	118	103	160	134	150	164	64	91	80	61
Madagascar	137	138	137	144	139	129	139	131	166	143	84	90	115	108
Guinea-Bissau	138	139	130	161	132	142	151	157	158	150	66	99	50	98
Zimbabwe	139	141	146	118	155	153	134	150	130	145	128	124	103	110
Pakistan	140	144	138	133	127	120	127	110	121	128	167	122	156	88
Guinea	141	140	155	162	97	132	157	123	154	154	49	105	123	93
Iraq	142	142	110	121	134	145	121	148	97	118	166	137	165	94
Venezuela	143	137	165	93	167	167	75	158	96	126	71	128	146	137
Togo	144	146	122	135	136	139	148	144	137	148	141	110	110	164
Mozambique	145	147	166	153	148	124	143	141	155	152	68	84	105	95
Sierra Leone	146	143	161	151	147	117	164	149	159	157	87	86	101	52
Libya	147	145	131	112	161	158	102	159	92	132	162	136	161	115
Nigeria	148	148	157	138	131	126	162	118	136	139	114	102	157	69
Mali	149	149	119	163	133	110	154	142	141	149	102	81	152	131
Ethiopia	150	152	133	139	145	144	130	137	149	141	115	153	138	117
Niger	151	151	134	166	135	119	150	147	161	158	124	93	134	83
Cameroon	152	150	121	127	137	151	158	139	134	140	109	126	155	135
Haiti	153	153	151	130	166	149	144	163	152	156	155	104	97	152
Republic of the Congo	154	154	162	132	157	150	141	151	139	146	81	123	137	159
Mauritania	155	155	147	160	154	159	137	161	125	159	163	143	109	154
Angola	156	156	144	157	160	146	152	167	146	147	120	133	119	155
Syria	157	157	128	129	159	162	112	140	101	112	158	166	163	167
Sudan	158	158	164	143	141	157	131	132	138	137	153	165	162	138
Burundi	159	159	159	150	114	152	136	154	164	153	126	157	158	151
Eritrea	160	160	154	158	158	164	125	152	153	160	106	167	142	153
Somalia	161	161	163	159	164	165	161	166	151	165	123	150	151	109
DR Congo	162	162	156	145	156	163	156	165	163	166	107	141	160	157
Afghanistan	163	163	123	155	151	147	153	155	156	161	161	132	166	166
Chad	164	164	149	165	165	161	166	160	162	167	90	125	143	165
Central African Republic	165	166	150	164	163	155	165	164	167	162	95	131	159	161
Yemen	166	165	167	154	162	166	149	162	142	163	150	164	164	158
South Sudan	167	167	160	167	152	160	167	156	165	151	93	160	167	162