The London-based think tank, the Legatum Institute, has again released its annual global Prosperity Index. This year’s index ranks Norway as the most prosperous country among 142 countries.
The index compares 89 variables including traditional indicators like per capita gross domestic product and the number of people in full-time work in addition to factors such as number of secure internet servers in the country and how well rested people feel on a day-to-day basis. The variables are then split into eight sub-indexes: economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom, and social capital.
Norway has topped the Prosperity Index for the last past seven years. Norway is the only country ranked in the top 10 of every sub-index.
The other Nordic countries all received high rankings:
Denmark 3rd, after Switzerland (2nd), and second best when it comes to entrepreneurship and opportunity.
Sweden 5th, after New Zeeland (4th), ranks the best for entrepreneurship and opportunity and also fares well in safety and security. The country gained one place in this year’s index.
Finland 9th , ranked the third best in safety and security and fifth best in governance, however, the relatively poor economy has pushed the country down a rank from last year.
Iceland 12th , dropped a rank compared to last year, but ranks in the top five in three sub-indexes; personal freedom, entrepreneurship and opportunity and safety and security.
Would you be interested in expanding your business into this prosperous market?