Sri Lanka has been ranked 61st globally in the 2015 Legatum Prosperity Index, which ranks nations according to wealth and wellbeing of their people improving by a single rank.
The annual Legatum Prosperity Index™ ranks 142 countries across eight categories: the Economy, Entrepreneurship & Opportunity; Governance; Education; Health; Safety & Security; Personal Freedom; and Social Capital.
- Norway comes out on top due the freedom it offers its citizens, the quality of its healthcare system and social bonds between its people.
- Switzerland is ranked 2nd in the Index for the third year in a row while Denmark has risen from 4th to 3rd compared to last year.
With seven years of comparable data the Prosperity Index is able to track national progress.
- Indonesia has performed better than any country in the world over the past seven years, rising 21 places up the rankings to 69th this year.
- Another strong performer since 2009 is Rwanda that has risen 17 places up the Prosperity Index and now ranks 101st.
- At the other end of the scale the poorest performers have been Syria (down 23 places), Tunisia (down 28 places) and Venezuela (down 16 places).
Sri Lanka’s best performance is in the Social Capital sub-index, where it has been ranked 32nd in 2015 while its lowest rank is in the Safety & Security sub-index. In terms of security, the island has been ranked 113th in 2015 although the rank had improved from the 120th last year.
On the other hand, Sri Lanka’s Economy improved five notches to rank at 65h globally this year from the 76th in 2014 and the Health improved a notch to rank at 77th.
Despite a low inflation rate and unemployment only 63.2% people are satisfied with the living standards and only 56.5% had access to adequate food and shelter, nearly 14% below the global average of 70.4%
Education sub-index improved to the 59th places from the last year’s 66th place ranking with 85.6% people saying they are satisfied with the quality of education.
In Governance, Sri Lanka ranked at 58th place with 87.5% people had confidence in national government and 88.1% had confidence in the judicial system while 93.4% had confidence in the military.
In other categories, the country ranked 85th in Entrepreneurship & Opportunity, 32nd in Social Capital, and 43rd in Personal Freedom.
Globally Norway led the overall rankings for the seventh year followed by Switzerland, Denmark, New Zealand and Sweden, rounding up the top five in that order.
In the South Asian region, in 2015, India improved to 99th and Bangladesh improved a notch to 103rd. Nepal improved seven notches to rank at 89th and Pakistan dropped in ranking to 130th while Afghanistan ranked in the bottom at 141st.
The 2015 Prosperity Index highlights the continued rise of many South East Asian economies-with Singapore climbing to first place in the Economy sub-index. Indonesia stands out as the top performer overall, having climbed 21 places in the global rankings in the last seven years.