The 2015 Legatum Prosperity Index has placed Luxembourg 13th out of a total 142 countries based on its performance and progress in several domains.
Luxembourg was found to have relegated Germany to 14th place, lying just behind Iceland. Its ranking was determined based on several factors: Economy; Entrepreneurship & Opportunity; Governance; Education; Health; Safety & Security; Personal Freedom; and Social Capital.
"The Prosperity Index tells us that the story of human progress goes beyond economics," Sian Hansen, Executive Director of the Legatum Institute, commented in the report. "It tells us that for nations to flourish they must provide opportunity and freedom to their citizens. It shows how access to quality healthcare and education provide the foundations on which nations can grow. It proves that effective and transparent government empowers citizens to take control of their lives. And it shows that protection from violence and oppression, as well as strong social bonds, are crucial to a thriving society."
Luxembourg ranked extremely well in the Health sub-index, although it was found to have scored lower than in the 2013 and 2012 rankings. Unsurprisingly, Luxembourg was found to have the highest capital per worker in the world at $272,931 per worker. However, it did not fare so well in the Education sphere at 43, which nonetheless shows a progressive improvement each year since 2012, when it ranked 48. In Governance it held its sixth position from 2014, whilst in Entrepreneurship & Opportunity it fell from 5 to 9.
Social Capital improved for the Grand Duchy, from 29 in 2014 to 24 this year, but it was in Personal Freedom that Luxembourg made the most significant advancements, leaping from 32nd to 4th place in just the last year alone. Luxembourg was first included in the survey in 2013, when it knocked the US down to 12th place.
Top of the overall rankings by country was Norway, with the Central African Republic lying bottom of the list. South East Asian economies were found to be on the up and up, with the report citing Indonesia as the top performer overall, having climbed 21 places in the global rankings in just seven years, particularly due to improvements made in Economy and Entrepreneurship & Opportunity.
Photo by Legatum Prosperity Index
