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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19

Spain  


Fast Facts

Population 40.5 mn (2009 est.) GDP (per capita) $34,700 (2008 est.) Inflation 2.8% (2007)
Life Expectancy 73 years (2003) GDP (PPP) $1,403.0 bn (2008 est.) Unemployment 8% (2007)
Average Life Satisfaction 7/10 (2008) GDP (growth) 1.2% (2008 est.) Freedom House Rating Free (2009)
Political System Parliamentary Monarchy (2009)

Sub-Index Rankings

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Index Comparisons
(Rank / Number of countries)

Legatum Prosperity Index19th / 104
Average Life Satisfaction Ranking10th / 104
Per Capita GDP Ranking19th / 104
WEF Global Competitiveness Index33rd / 133
UN Human Development Index16th / 179
Heritage/WSJ Economic Freedom Index29th / 178
TI Corruption Perceptions Index28th / 180
Vision of Humanity Global Peace Index28th / 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 11th

Spain has a strong domestic market and a competitive credit lending sector

Spain’s unemployment and inflation rate of 8% and 3% rank it 63rd and 31st, globally. Domestic savings are around international averages at 25% of GDP, ranking the country 45th. Spain has high levels of physical capital per worker and a low proportion of raw materials in its exports, ranking the country 14th and 31st for these variables, respectively. The default rate is also extremely low at 0.7%, as is the net interest margin at 1.5 percentage points – Spain ranks ninth and seventh, respectively, on these variables. Spain has the 12th highest household expenditure internationally at 27% of GDP. At 4% of GDP, foreign direct investment is low but moderate by international comparison, ranking the country 53rd. Revenue from exports in comparison to import costs is also low, but within global average, ranking the country at 51st.

Entrepreneurship and Innovation - Ranked 25th

Spain has high numbers of business start ups, but has low levels of high-tech exports

Despite 10 procedures required to start a business, an impressive 148,648 new businesses were created in Spain in 2007, the seventh highest number globally. The service sector is well developed, ranking the country 24th globally and accounting for 67% of GDP. Spanish citizens have access to secure and fast Internet connections and moderate accessibility to personal computers, ranking Spain solidly within the top 25 countries. Royalty receipts rank at 14th in the world, displaying a high level of commercialisation. The level of R&D expenditure is equivalent to 1.2% of GDP, ranking the nation 21st for this category. High-tech exports are low, however, comprising just 6% of manufactured exports and ranking the country at 55th. Exports from the ICT sector are also relatively low, at under 4% of total goods exported, ranking the country 36th.

Democratic Institutions - Ranked 15th

Spain is a fully democratic nation whose population enjoy complete civil and political rights

Spain ranks highly for the level of democracy prevalent in its institutions. The population enjoys full freedom of expression and belief, and is wholly able to participate in the political process. Elections are highly regulated and there is open political competition in a multi-party system. The largest party in the legislature retains less than 75% of the seats and significant constraints on the executive ensure that policy changes are not arbitrary and the judiciary is independent. The last change in the political system took place less than 30 years ago, ranking Spain 37th in regards to regime stability.

Education - Ranked 12th

Spain has a very high standard of education across the board, although levels of secondary schooling could be improved

Spain achieves full participation at primary school and extremely high secondary school enrolment rates, placing it in the top five on both variables. Tertiary education enrolment figures are slightly lower at 67% of the eligible population, yet this still ranks Spain at 16th. Class sizes at the primary level are small at 14 students per teacher, ranking the country 17th, internationally. Equality of enrolment between genders is high, with 103 girls to every 100 boys. Spanish workers possess an adequate level of secondary schooling at an average of 5.2 years, ranking the country 56th internationally. Tertiary education levels amongst workers are extremely high, however, at an average of 4.6 years each, ranking 13th, globally. In addition, an average expenditure of approximately $9,000 per student provides a global ranking of 20th for this measure.

Health - Ranked 17th

Spain has good healthcare provisions and the third highest life expectancy

With 33 and 34 doctors and nurses per 10,000 people and similar numbers of hospital beds, respectively, Spain ranks18th and 41st in the world. Health-adjusted life expectancy is extremely high at 73 years, and the level of undernourishment is very low at 3% of the population, both ranking third, globally. There is universal access to good sanitation and the level of infant mortality is very low at four deaths per 1,000 births, ranking 13th, globally. More than eight in nine people describe themselves to be in good health, whilst only 22% report debilitating health problems.* An astonishing 28% of the population report having experienced pain recently, ranking Spain 76th in the world.* Three-quarters of the population are satisfied with the water quality and feel well rested, giving a ranking of 16th on the latter variable.*

Safety and Security - Ranked 28th

Levels of crime are fairly low in Spain, but there are some problems with community conflict

Spain has small security challenges related to refugees, displaced individuals, human flight, and statesponsored violence towards certain politically motivated groups. Spain faces a more significant problem with group grievances and targeted violence towards certain communities with a history of discrimination, ranking the country at 56th on this variable. While Spain experienced no casualties from civil or ethnic conflict during 2008 and the incidence of homicide is very low at just over one death per 100,000 capita, reported assaults were moderately high at 7%, ranking the country 62nd on this variable.* The proportion of people reporting theft during 2008 was fairly low at 14% and 69% of the population reported feeling safe walking alone at night, ranking the country above average on both variables.*

Governance - Ranked 21st

The quality of government in Spain is good but the population is concerned about corruption and the quality of the judicial system

The standard of law enforcement, and respect for the rule of law, are rated highly at 21st in the world. At a global ranking of 20th, the quality of regulation in investment and competition is also high, as is the effectiveness of the government in running bureaucracy and implementing changes in policy, which ranks at 27th globally. The ability to participate politically is high and can be described as free and fair, with almost 75% of the population having faith in the honesty of elections.* Despite this, the majority of the population does not show confidence in the judicial system. While two-thirds of the population believes the government to be corrupt, a high 80% consider the same to be true of local businesses.* The former places Spain 23rd while the latter ranks this country 44th, internationally.* Seven tenths of the population have confidence in the military, which is in line with global averages.*

Personal Freedom - Ranked 13th

Spanish citizens enjoy unrestricted liberty and are extremely tolerant towards ethnic minorities and immigrants

Spanish citizens have unconstrained freedom to practise their religious beliefs, speak freely without fear of government censorship, and travel freely within and out of their own country. More than eight in 10 are satisfied with the level of choice they are able to exercise over their lives and roughly the same proportion believe Spain to be a good destination for immigrants and ethnic minorities, ranking Spain amongst the top 20 on the latter two variables.*

Social Capital - Ranked 71st

In Spain, reliance on friends and family is high, but donating and volunteering are less common forms of social capital

Although only 20% of the Spanish population trust strangers, friends are considered important and reliance on family and friends is high at 96%, ranking the country seventh.* Spanish citizens are not overly religious, and only 21% of the population report being a member of a religious organisation, indicating limited access to religious support networks.* Membership of social and sports clubs and institutions is also generally low, with an overall ranking within the top 45. Whilst the number of people who say they have helped a stranger is in line with international averages at 46% of the population, only 26% have donated money, ranking the country 57th, and only 15% volunteered, ranking Spain 74th.*

* Data taken from the Gallup World Poll