The third edition of the Legatum Prosperity Index, published today, ranks 104 countries (covering 90% of the world's population), based on a definition of prosperity that combines economic growth together with measures of happiness and quality of life. At 47th, the UAE is the only Arab nation ranked in the top 50 for the second year running, thanks to strong scores in security and safety, and health. In contrast, several other Middle East and North African nations are clustered in the bottom quarter, such as Saudi Arabia (81st), Egypt, (88th), Iran (94th), Algeria (96th), and Yemen (102nd).

"The Legatum Prosperity Index is the world's only global assessment of wealth and wellbeing," said Dr. William Inboden, Senior Vice President of the Legatum Institute. "While several countries in the region are taking positive steps towards reform, the Prosperity Index demonstrates that the region still faces considerable challenges in developing its economic potential as well as improving the quality of life of its citizens,"

he continued. "There are some bright spots, such as relatively high ranks on Safety and Security for the UAE (18th) and Kuwait (24th). But to catch up to the rest of the world, most countries across the region should focus upon access to freedoms, economic factors, good governance, and the general well-being of their citizens, " concluded Dr. Inboden.

Key Findings from the 2009 Legatum Prosperity Index:

- Finland tops the Index, followed by Switzerland, Sweden, and Denmark; the United States is 9th and the United Kingdom is 12th.

- The UAE scores in the top global tier on Health (29th) and Safety and Security (18th), but in the lowest tier on Democratic Institutions (98th) and Social Capital (77th).

- Iran performs poorly across the board, and is near the global bottom in Governance (102nd) and Personal Freedom (101st).

- Egypt also lags far behind global averages, ranking near the bottom in Personal Freedom (95th) and Social Capital (100th).

- Jordan (80th overall) and Tunisia (68th overall) are in the middle tiers in Education, Health, Safety and Security, and Governance, indicating areas with potential for continued improvement.

- Despite its massive petroleum wealth, Saudi Arabia's overall rank (81st) suffers from very poor performances in Entrepreneurship and Innovation (81st), Democratic Institutions (101st), and Personal  Freedom (98th).

- Yemen at 102nd overall continues to face major challenges, ranking in the bottom global tier in every category.

The Prosperity Index identifies nine key factors that drive economic growth and personal wellbeing, which are the foundations of prosperity. Each of these nine factors is represented in a sub-index and a country's final Prosperity Index ranking is generated by averaging its scores across all nine sub-indexes, equally weighted. More information on the Prosperity Index, including full country rankings, background on data and methodology, and profiles of each country can be found at http://www.prosperity.com.

- Ends -

About the Legatum Prosperity Index
The 2009 Legatum Prosperity Index is based on statistical analysis of more than 40 years of data for more than 100 countries worldwide, produced and supervised by the Legatum Institute, with input from the research consultancy Oxford Analytica and a panel of respected academic advisors in the fields of economics, history, development, sociology, and political science.

TOP TWENTY COUNTRIES MIDDLE EAST & NORTH AFRICA
1. Finland 27. Israel
2. Switzerland 47. UAE
3. Sweden 53. Kuwait
4. Denmark 68. Tunisia
5. Norway 80. Jordan
6. Australia 81. Saudi Arabia
7. Canada 83. Morocco
8. Netherlands 86. Lebanon
9. United States 88. Egypt
10. New Zealand 94. Iran
11. Ireland 96. Algeria
12. United Kingdom 102. Yemen
13. Belgium
14. Germany
15. Austria
16. Japan
17. France
18. Hong Kong
19. Spain
20. Slovenia

BOTTOM TEN COUNTRIES
95. Kenya
96. Algeria
97. Tanzania
98. Nigeria
99. Pakistan
100. Cameroon
101. Central African Republic
102. Yemen
103. Sudan
104. Zimbabwe

How the Index is constructed
The Prosperity Index accounts for 90 percent of the world's population, using a combination of objective data and subjective responses to surveys. This data comprises 79 different variables, and each is then distilled into one of the nine different sub-indexes identified as a foundation of prosperity. A country's performance in each sub-index is given a score, and the overall Prosperity Index rankings are produced by averaging the equally-weighted scores of the 9 sub-indexes for each country. Those countries that perform well across each sub-index score highest in the overall rankings.

The nine foundations of prosperity that define successful nations are:

- Economic Fundamentals - a growing, sound economy that provides opportunities for wealth creation- Entrepreneurship and Innovation - an environment friendly to new enterprises and the commercialisation of new ideas - Education - an accessible, high-quality educational system that fosters human development - Democratic Institutions - transparent and accountable governing institutions that promote economic growth - Governance - an honest and effective government that preserves order and encourages productive citizenship - Health - the physical well-being of the populace - Personal Freedom - the degree to which individuals can choose the course of their lives - Security - a safe environment in which people can pursue opportunity - Social Capital - trustworthiness in relationships and strong communities

About the Legatum Institute
The Legatum Institute ("LI") is an independent policy, advocacy and advisory organisation. The Institute's mission is to research and promote the principles that drive the creation of global prosperity and the expansion of human liberty and wellbeing.

For more information about the Legatum Institute, please visit http://www.li.com.
The Institute is part of the Legatum Group, a private global investment organization focused on investing in the international capital markets and the promotion of sustainable development.

For more information about the Legatum Group, please visit http://www.Legatum.com.

For more information, please contact:
London
William Inboden, Legatum Institute
Telephone: +44-20-7148-5400
Email: william.inboden@legatum.com

Nick Wood, Media Intelligence Partners
Telephone +44-20-3008-8146
Email: nickwood@nickwood.demon.co.uk
Dubai, UAE

Hamish Banks, Legatum
Telephone: +971-4-317-5800
Email: hamish.banks@legatum.com

Nicole Anwer, Legatum
Telephone: +971-4 317-5800
Email: nicole.anwer@legatum.com

New York
Michael Iacovella, Edelman
Telephone +1-212-704-8254
Email: michael.iacovella.@edelman.com

Mumbai
Arwa Husain, Adfactors PR
Telephone +91-22-2281-3565
Email: arwa.husain@adfactorspr.com

© Press Release 2009

 

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