Official Site - The Legatum Prosperity Index is the world's only global assessment of wealth and wellbeing; unlike other studies that rank countries by actual levels of wealth, life satisfaction or development, the Prosperity Index produces rankings based upon the very foundations of prosperity – those factors that help drive economic growth and produce happy citizens over the long term.
The 2009 Legatum Prosperity Index
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20

Slovenia  


Fast Facts

Population 2.0 mn (2009 est.) GDP (per capita) $29,600 (2008 est.) Inflation 3.6% (2007)
Life Expectancy 69 years (2003) GDP (PPP) $59.3 bn (2008 est.) Unemployment 5% (2007)
Average Life Satisfaction 6/10 (2007) GDP (growth) 3.5% (2008 est.) Freedom House Rating Free (2009)
Political System Parliamentary Republic (2009)

Sub-Index Rankings

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Index Comparisons
(Rank / Number of countries)

Legatum Prosperity Index20th / 104
Average Life Satisfaction Ranking40th / 104
Per Capita GDP Ranking25th / 104
WEF Global Competitiveness Index37th / 133
UN Human Development Index26th / 179
Heritage/WSJ Economic Freedom Index68th / 178
TI Corruption Perceptions Index26th / 180
Vision of Humanity Global Peace Index9th / 144

 

Regional Ranking:
Europe

1 Finland
2 Switzerland
3 Sweden
4 Denmark
5 Norway
8 Netherlands
11 Ireland
12 United Kingdom
13 Belgium
14 Germany
15 Austria
17 France
19 Spain
20 Slovenia
21 Italy
22 Portugal
25 Czech Republic
27= Hungary
29 Poland
30 Greece
31 Estonia
34 Slovakia
35 Croatia
37 Latvia
46 Bulgaria
48 Romania
59 Macedonia
61= Ukraine
69= Russia
69= Turkey
78 Moldova
85 Belarus

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Economic Fundamentals - Ranked 31st

Slovenian unemployment rate is low, but the country lacks foreign direct investment and suffers from low household expenditure

At 5%, the unemployment rate is relatively low, ranking the country 27th, internationally, while the inflation rate is moderate at 4%. A high domestic savings rate equivalent to 30% of GDP, coupled with a household expenditure as low as 23% of GDP, hint at low consumer confidence and weak domestic demand. Defaults occurred in just 2.5% of total loans, which ranks the country at 36th on this variable. Slovenia is ranked 11th in the world for its low net interest margin of almost two percentage points, indicating some competition in the credit sector. Reliance on raw material exports is low and revenues from exports relative to the cost of imports are high, indicating strong terms of trade. However, the level of direct foreign investment is low at 3% of GDP, ranking the country 65th on this variable.

Entrepreneurship and Innovation - Ranked 36th

Slovenia displays moderate success in commercial innovation but has low levels of high-tech exports

Requiring nine formal procedures for registration, the number of new businesses created in Slovenia in 2007 stood at approximately 3,900, ranking the country 62nd on this variable of entrepreneurship. The economy has an established services sector, which creates value added equivalent to 64% of GDP. Only 5% of manufactured exports come from the high-tech sector, placing the country 60th in the global rankings, and the ICT sector contributes under 3% of total exports, ranking the country 44th on this variable. Internet security in Slovenia is good, with approximately 95 secure servers per million people, while internet bandwidth ranks Slovenia 57th on this variable. The level of personal computers is also in line with global averages at almost 41 units per 100 people. Investment in R&D is relatively low, equivalent to 0.7% of Slovenia’s GDP, whilst royalty income is ranked 45th by international comparison, suggesting some success in the area of commercial enterprise.

Democratic Institutions - Ranked 16th

Slovenia is a fully democratised nation, but these institutions were established less than 20 years ago

Slovenians have full political and civil rights allowing them freedom of expression and full participation in democratic processes. There is a high level of open political competition amongst multiple parties in well-regulated elections, enabling change in voting preferences to influence policy. The largest party in the legislature holds less than 75% of the seats and the nation benefits from an independent judiciary. Established less than 20 years ago, the regime ranks 56th for political stability.

Education - Ranked 8th

Education in Slovenia is a strong priority and of a high standard

Slovenia achieves a global ranking of 37th for primary school enrolment, with 95% of eligible students enrolled; class sizes at this level are also very small with 15 students per teacher, ranking the country 21st on this variable, and there is gender equity in enrolment. Secondary and tertiary enrolment rates are also high at 95% and 83%, ranking the country 32nd and fifth, respectively. The level of educational expenditure ranks at 17th in the world with an average of approximately $10,000 per student in primary and secondary education. Workers in Slovenia possess high levels of education with an average of 5.6 and 4.7 years of secondary and tertiary education, ranking the country 22nd and ninth, respectively, on these variables.

Health - Ranked 24th

Slovenia has low infant mortality, high life expectancy and good healthcare provision

Slovenia ranks at 34th for the number of doctors and nurses, at 24 per 10,000 people. The availability of hospital beds is at 48 per 10,000 people, ranking the country at a high 29th on this variable. Healthadjusted life expectancy is high at 69 years, ranking the country 23rd on this variable, and infant mortality is very low at three deaths per 1,000 births, the seventh lowest rate, internationally. There is universal access to good sanitation and 86% of the population are satisfied with the water quality.* Undernourishment is low at 3% of the population, However, 81% of people report to be in good health and 30% of people describe themselves as having health problems. One-quarter report having experienced extended periods of pain recently, and 68% of the population report being well rested.*

Safety and Security - Ranked 8th

Levels of crime in Slovenia are low and the majority of the population reports feeling secure

Slovenia does not face security challenges related to refugees, internally displaced people, or government violence towards citizens. There are some problems with disturbances related to group grievances and human flight, but Slovenia ranks well within the top 30 countries on both variables. There were no casualties from civil war in 2008 and the homicide rate is low at less than two deaths per 100,000 capita, providing the country with a global ranking of 24th for this measure. Reports of property theft are very low at 8%, levels of assault are also very low at 3%, and 81% of the population feel safe walking alone at night, ranking the country in the top 20 for all three variables.*

Governance - Ranked 24th

Slovenians engage in a high degree of political participation but many disapprove of the judicial system

Respect for rule of law, quality of law enforcement, quality of bureaucracy, and government effectiveness are all high, ranking the country in the top 25 on these variables. In addition, regulation, with respect to investment and competition, is strong. The level of political participation is high, with citizens having freedom to choose and engage in the political process. Consequently, belief in the honesty of elections is also high, with 77% of respondents having confidence in them, ranking the country within the top 15 on this variable.* More than three-quarters of the population has confidence in the military and only 57% of the population believe local government to be corrupt.* However, 80% of people believe local businesses to be corrupt, and only one-third of the population has confidence in the judicial and court system, providing a global ranking of 85th.*

Personal Freedom - Ranked 33rd

More than nine out of 10 Slovenians are satisfied with their freedom of choice

The population enjoy a high degree of freedom of movement, religion, and expression. An extremely high 94% are satisfied with the freedom they have to choose in their lives, making Slovenia the fifth highest ranking nation for this measure.* Tolerance towards ethnic minorities is moderate, with 62% of people believing the country to be a good destination for ethnic minorities.* However, Slovenia is less welcoming towards immigrants, with 49% believing the country to be a good place for such groups, providing a global ranking of only 91st on this variable.*

Social Capital - Ranked 44th

Levels of social capital are fairly high in Slovenia, with a significant number of people volunteering

Whilst only 18% of Slovenians believe others can be trusted, the nation ranks 27th for the importance on friendship, with 94% of people saying they can rely upon friends and family, the 18th highest rate, globally.* However, the number of people who describe religion as important to their lives is fairly low, ranking the country 76th, internationally, and indicating limited access to religious support networks.* Voluntary membership in groups fares well by international comparison: 29% of the population belong to religious organisations, 30% are involved in sports, 17% in arts organisations, and 7% in environmental organisations, ranking the country within the top 40 in all cases. Over 40% of people have donated money, ranking the country 29th for this variable, and 44% say that they have helped a stranger, which ranks Slovenia 59th on this variable.* Just under one-third of the population claim to have volunteered their time in the last reported month, ranking the country 14th on this variable.

* Data taken from the Gallup World Poll