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Lebanon ranks 84th worldwide, 10th in Middle East on global Prosperity Index
22 November 2010
BEIRUT: Lebanon ranks 84th out of 110 countries around the world for its prosperity, according to The Legatum Institute 2010 Prosperity Index. The index also placed the country 10th among 14 countries in the Middle East and North Africa region.
Lebanon came in last place among 27 upper-middle income countries (UMICs) included in the survey, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.
Lebanon ranked 86th globally, eighth place regionally and last among UMICs in the 2009 survey.
The index uses a definition of prosperity that includes both material wealth and quality of life. It finds the most prosperous nations in the world are not necessarily those with the highest GDP, but also those that have happy, healthy and free citizens.
Lebanon ranked 70th place globally, eighth in the MENA region and 18th among UMICs on the Economic Fundamentals Sub-Index. This category represents the degree of growing and sound economy that provides opportunities for wealth creation. Globally, Lebanon came ahead of Syria, Egypt and Botswana, and behind Turkey, Namibia and Romania. Regionally, Lebanon ranked ahead of Syria, Egypt and Iran and behind Tunisia, Algeria and Morocco. It also ranked ahead of Botswana and behind Turkey among UMICs.
Lebanon ranked 83rd globally, ninth in the MENA region and 27th among the UMICs on the Entrepreneurship & Innovation Sub-Index. The category reflects the degree of a favorable environment to new enterprises and the commercialization of new ideas. It also measures the continuous ability for people to seek new opportunities and improve their own socioeconomic standing. Globally, Lebanon came ahead of Egypt, Uzbekistan and Iran and behind Indonesia, El Salvador and Honduras. Regionally, Lebanon ranked ahead of Egypt, Iran and Sudan and came behind Algeria, Jordan and Morocco. It also ranked last behind Algeria and Namibia among UMICs.
Lebanon ranked 92nd globally, 11th in the MENA region and 24th among the UMICs on the Governance Sub-Index. This category reflects the degree of an effective and accountable government, fair elections and political participation and rule of law.
Norway was perceived as the most prosperous country globally, and Zimbabwe the least prosperous country around the world. – The Daily Star
© Copyright The Daily Star 2010.
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