The 2015 Legatum Prosperity Index is a project by the Legatum Institute that annually ranks countries’ prosperity based on income and well-being.
The Index ranks 142 countries across eight categories: the Economy, Entrepreneurship & Opportunity; Governance; Education; Health; Safety & Security; Personal Freedom; and Social Capital.
The 2015 Legatum Prosperity Index has placed Singapore at the top of its Economy sub-index, and
Norway is the Most Prosperous Country in the World.
Singapore has climbed one place higher each year in the Economy sub-index since it ranked third in 2013. Singapore beat 142 other countries such as Switzerland, which held the spot last year and is now 2nd, and China, which is 3rd.
“The country has the second highest capital per worker in the world: $240,750 per worker. 47% of the country’s manufactured exports are classified as ‘high-tech’, the third highest in the world,” said Legatum in a regional press release.
Singapore ranked 25th in the Social Capital sub-index and 38th in the Personal Freedom sub-index, marking it as Singapore’s lowest performance. This is two places higher than in 2014, though, and 15 places higher than in 2013.
Singapore’s overall ranking of 17th in 2015 is the highest it has ever achieved.
In all but the Personal Freedom and Social Capital sub-indices, Singapore ranked in the top 20-- 1st in Economy, 12th in Entrepreneurship & Opportunity, 12th in Safety and Security, 13th in Governance, 14th in Health, and 15th in Education.
“The 2015 Prosperity Index shows that the country is safe and well-run. The Index reveals that the country is largely free of tension between different social groups. 96% of Singaporeans believe that the country is a good place for people of different ethnicities—the highest in the world,” said Legatum.
For the other sub-indices at a global level, Singapore was 12th in both "entrepreneurship and opportunity" and "safety and security"; 13th in governance, 14th in health, 15th in education and 25th in social capital.
The Republic's worst-performing category was in personal freedom, where it ranked 38th in the world. However, this still put it fourth overall in Asia - behind Hong Kong (26), Taiwan (31) and Japan (33). Sri Lanka was next at 43rd, while South Korea was ranked 66th worldwide.
For other ASEAN nations, Malaysia came in next highest overall at 44th. Thailand was ranked 48th, Vietnam at 55th, Indonesia at 69th, Philippines at 74th, Laos at 95th. Cambodia came in last at 112 out of 142 territories. In the personal freedom sub-index, Malaysia, Cambodia and Indonesia were the last three in ASEAN, coming in at 114th, 122nd and 123rd respectively on a global level.
Sources:
Legatum Institute 2015 Legatum Prosperity Index
http://www.li.com/activities/publications/2015-legatum-prosperity-index
Legatum Institute Regional Press release (Singapore)
https://lif.blob.core.windows.net/lif/docs/default-source/press-releases/new-index---singapore-is-the-most-successful-economy-in-the-world.pdf?sfvrsn=6
http://www.channelnewsasia.com/news/singapore/norway-leads-global/2232866.html
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