Sweden (2nd) is the Western European country whose prosperity has deteriorated the most over the last ten years. Since 2011, it has experienced a deterioration in six of the Index’s 12 pillars, with the greatest deteriorations seen in Governance, Social Capital, and Investment Environment.
The varying performance of the Index’s seven regions provide an illustration of how prosperity has plateaued. Five regions have experienced a deterioration in their prosperity over the last year, whilst Eastern Europe and sub-Saharan Africa are the only regions to have recorded an improvement in 2021.
The varying performance of the Index’s seven regions provide an illustration of how prosperity has plateaued. Five regions have experienced a deterioration in their prosperity over the last year, whilst Eastern Europe and sub-Saharan Africa are the only regions to have recorded an improvement in 2021.
The greatest deterioration in the past year has
been seen in Latin America and the Caribbean (4th), with all but five countries
in the region weakening as a result of impact of the pandemic alongside faltering
Governance. We have seen prosperity weaken in the world’s two most prosperous
regions — North America and Western Europe. Whilst North America (1st) remains
the world’s most prosperous region, it has deteriorated for the second year in
a row.
Prosperity in Eastern Europe (3rd) has improved
for the fifth year in a row. Progress has been driven by growing confidence in
key institutions, increasing levels of civil and social participation, as well
as improving social tolerance. Though still ranked last, sub-Saharan Africa
(7th) has continued its steady progress. Prosperity in the region has now
increased for the 11th consecutive year, driven by consistent progress in
health, levels of social tolerance, and infrastructure and market access.
However, the pace of progress continues to lag behind that seen in regions like
Eastern Europe and Asia-Pacific over the past decade.
To
explore in more detail how and why prosperity has been changing in each of
these regions over the last decade, download datasheets for each region:
Having seen global prosperity improve steadily between 2015 and 2019, this year’s Legatum Prosperity Index finds that prosperity has plateaued for the second year…
The Index has been designed to benefit a wide range of users, including political leaders, policymakers, investors, business leaders, philanthropists, journalists,…
Areas within this domain range from the relationship of citizen and state, to the degree to which violence permeates societal norms, to the interaction of freedoms…
