PRNewswire/ Lack of Freedoms Strongly Limit Prosperity in Other Arab States; Egypt, Iran and Yemen Amongst the Worst.
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.
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.