Saturday , 13 July 2024

World’s Most Prosperous Countries: Where Do the U.S., Canada and Others Rank?

The Legatum Prosperity Index survey, as shown in the following table, ranks countries on eight different attributes, and then consolidates those attributes into an ‘overall ranking’. The report says that the U.S. has fallen out of the top 10 (to #12) in the ‘most prosperous country ranking’ increasing doubts about the health of its economy and ability of its politicians. Read the balance of the article to see where your country is ranked overall and in each of the 8 different categories. Words: 520

So reports Bloomberg News in edited excerpts from an article* posted at under the title U.S. slips out of top 10 most prosperous countries, while Canada keeps No. 6 ranking.




Lorimer Wilson, editor of (Your Key to Making Money!), may have edited the article below to some degree for length and clarity – see Editor’s Note at the bottom of the page for details. This paragraph must be included in any article re-posting to avoid copyright infringement.


The article goes on to say, in part:

The six-year-old Legatum Prosperity Index (developed by The Legatum Institute, a public policy research arm of the Legatum Group, a Dubai-based private investment group founded in 2006 by New Zealand billionaire Christopher Chandler) is a study of wealth and wellbeing in 142 countries. Covering 96% of the world’s population, it is an attempt to broaden measurement of a nation’s economic health beyond indicators such as gross domestic product.

Overall Prosperity Ranking 

[As can be seen in the table below]:

  • Norway and Denmark retained the pole positions they held last year,
  • Sweden leapfrogged Australia and New Zealand into third.
  • Canada (#6), Finland (#7), the Netherlands (#8), Switzerland (#9) and Ireland rounded out the top 10.
  • The Central African Republic was ranked last.


Sub-Index Rankings

As noted above, in its sub-indexes, Legatum named:

  • Switzerland the strongest economy & home to the best system of governance.
  • Denmark the most entrepreneurial,
  • New Zealand as having the best education,
  • Luxembourg as having the best health care,
  • Iceland as the safest,
  • Canadians as enjoy the most personal freedom and
  • Norwegians having the greatest social capital.

[U.S. Rankings

Of the 142 countries the United States is ranked:

  • only 20th as a world economy;
  • just 12th in ‘entrepreneurship and opportunity’. Think of that in the context of the American mantra of ‘we are the best at innovation’;
  • 27th in safety and security; and,
  • only 14th in personal freedom, an interesting survey finding given the U.S. Constitution’s 1st (freedom of speech) and 2nd (right to carry arms) amendments.

Something to think about both generally, and in the context of the U.S. and world financial markets. Source: Ian R. Campbell (]

European Rankings

Plagued by the euro-area debt crisis, 24 out of 33 European nations have witnessed a decline in their economic score since 2009, according to Legatum. On the prosperity scale, Greece recorded the biggest drop in 2012, falling 10 places since 2009 to 49th. Spain held on to 23rd place.

The U.K remained 13th, one place ahead of Germany, and Legatum predicted it will overtake the U.S. by 2014 as it scores well for entrepreneurship and governance. Nevertheless, the status of its economy remains a weakness as it slid five places to 26th on that score and job satisfaction is low.

Asian Rankings

Hong Kong, Singapore and Taiwan all ranked in the top ten for their economies and the top 20 overall. So-called tiger cub economies Vietnam and Indonesia also rose. Indonesia experienced the largest gain in prosperity of any country since 2009, jumping 26 positions to 63rd.


 Related Articles:

1. 18 Countries Now Have More Economic Freedom Than U.S. – Here are the Details

This year’s Economic Freedom of the World Index, which lists countries by most to least free using every available objective criterion, contains a real shocker when it comes to the United States. We aren’t just slipping on the index, we’re falling off a cliff. In many parts of the world, life is freer than in the “land of the free.” What this reports says about the United States should be front-page news. Instead, it has received barely any attention at all. The U.S. has fallen from a high of 2nd to its current 19th. Here’s why. Words: 1040

2. Uncle Sam vs. Johnny Canuck: One is Thriving, the Other is Just Surviving

For the first time in recent history, the average Canadian is richer than the average American. According to data from Environics Analytics WealthScapes published in the Globe and Mail, the net worth of the average Canadian household in 2011 was $363,202, while the average American household’s net worth was $319,970. [In addition,] Canada’s unemployment rate…[has fallen to] 7.2%, and America’s [remains at] 8.2%. Canada continues to thrive while the U.S. struggles to find its way out of an intractable economic crisis and a political sine curve of hope and despair. Words: 805

3. U.S. Dollar Ranks #4 Behind Currencies of Australia, Canada and New Zealand Among G10 Countries Based on Monetary Policy – Here’s Why

Merk Investments has ranked the attractiveness of the currencies of each G10 country based on the monetary and fiscal policies of each country and the strength of each country’s economy to come up with what they call the Merk Currency Score™. This Score should prove invaluable in supporting investment decision-making across countries and regions. Go here to see where your country ranks. Words: 367

4. Debt-to-GDP Ratio of 10 Largest Economies

Canada has the lowest total debt-to-GDP ratio of the world’s 10 largest economies (Australia is 2nd best, Germany 3rd and the U.S 4th) while the U.K. and Japan are 9th and 10th but when such debt is broken down by sectors the findings are quite different. Let’s take a look. Words: 800

5. Ian Campbell’s Commentary: Canada’s Many Economic Advantages Make it #1 – Here’s Why

Canada’s size, political structure, and culture will enable it to – properly governed – be more resilient to world economic problems than any other developed country. [For one thing] we don’t have the extent of political polarization that… [is currently the case] in Washington…and now exacerbated to new levels in these difficult economic times – and that will, in my view, cause the U.S. to continue down an increasingly rocky economic road. [Below I put forth Canada’s economic advantages and disadvantages.] Words: 1026