The Entrepreneurship & Opportunity sub-index has moved up by five places to 6th in 2013, given the increase in internet bandwidth and the number of mobile phones per 100 people.
The 2013 Legatum Prosperity Index™ offers a unique insight into how prosperity is forming and changing across the world.
Traditionally, a nation’s prosperity has been based solely on macroeconomic indicators such as a country’s income, represented either by GDP or by average income per person (GDP per capita). However, most people would agree that prosperity is more than just the accumulation of material wealth, it is also the joy of everyday life and the prospect of being able to build an even better life in the future. The Prosperity Index is distinctive in that it is the only global measurement of prosperity based on both income and wellbeing.
This year, the US has moved down four places to 24th in the Economy sub-index. Countries that have overtaken the US in the Economy sub-index include New Zealand (17th) and South Korea (19th), among others.
Mexico has increased seven places to 27th in the Economy sub-index, overtaking Brazil (32nd). However, Mexico still trails Brazil in the overall Prosperity Index, ranking 59th compared to Brazil at 46th.
Bangladesh (103rd) ranks above India (106th) in the Prosperity Index for the first time in 2013. Although Bangladesh ’s rank has remained constant since last year, India has declined five places in the same period. India has fallen down the Prosperity Index rankings consistently over the last five years.
The UK has moved down three places to 16th in overall Prosperity, as a result of decreases in the rankings for six out eight sub-indices since last year. The UK has been leapfrogged by Austria (15th), Germany (14th), and Iceland (13th).
Turkey (130th), Saudi Arabia (131st), Algeria (132nd), Syria (133rd), Jordan (136th), Yemen (140th), Iraq (141st), and Egypt (142nd) are in the bottom 15 countries in the Personal Freedom sub-index, which measures factors such as the guarantee of individual freedom and social tolerance.
Norway ranks first in overall Prosperity, as it has since 2009, confirming its place as the most prosperous country in the world for the fifth consecutive year. The country also ranks first in the Economy and Social Capital sub-indices in 2013.
The top ten countries include Sweden (1st), Denmark (2nd), Finland (3rd), Switzerland (4th), Luxembourg (5th), Norway (6th), Iceland (7th), Netherlands (8th), and United Kingdom (9th). Hong Kong makes up the top 10, placing 10th in the sub-index.
Twenty-four sub-Saharan countries rank in the top 100 in the Personal Freedom sub-index. Benin (28th), Côte D’Ivoire (37th), Namibia (39th), Burkina Faso (40th), and Botswana (41st), are the five highest ranking sub-Saharan countries in the Personal Freedom sub-index.