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> Montenegro Economy > 2017 Prosperity Index: Montenegro Ranked 65th Globally

2017 Prosperity Index: Montenegro Ranked 65th Globally

Legatum Institute, a British think-tank, has published 2017 Prosperity Index data. The Legatum Prosperity Index contains data on 149 countries for socio-economic variables, spread across eight sub-indices.

The Prosperity Index offers a unique insight into how prosperity is forming and changing across the world. Traditionally, a nation’s prosperity has been based solely on macroeconomic indicators such as a country’s income, represented either by GDP or by average income per person (GDP per capita). However, most people would agree that prosperity is more than just the accumulation of material wealth. It is also the joy of everyday life and the prospect of being able to build an even better life in the future.

The Index is distinctive in that it is the only global measurement of prosperity based on both income and well-being. In recent years, governments, academics, international organizations, and businesses have increasingly moved their attention towards indicators that measure well-being as a complement to GDP.

The Prosperity Index tells us that the story of human progress goes beyond economics. 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.

According the 2017 data, top 10 most prosperous economies were:

  1. Norway
  2. New Zealand
  3. Finland
  4. Switzerland
  5. Sweden
  6. the Netherlands
  7. Denmark
  8. Canada
  9. Australia
  10. United Kingdom

Best performance by sub-indexes:

  • Economic quality: Sweden
  • Business environment: USA
  • Governance: Finland
  • Education: Switzerland
  • Health: Luxembourg
  • Safety and Security: Singapore
  • Personal freedoms: New Zealand
  • Social capital: Australia
  • Natural environment: Norway

Montenegro

Montenegro’s parameters for 2017, LI

OVERALL PROSPERITY: 65th /149 economies

In the overall Prosperity Index rankings, Montenegro has fallen by 7 positions from 58 to 65 when compared to last year. Since the Prosperity Index began in 2006, Montenegro has remained at the same position.

PILLAR RANKINGS

In the Prosperity Pillar rankings, Montenegro performs best on Safety & Security and Education and scores lowest on the Natural Environment pillar. The biggest positive change, compared to last year, came in Social Capital increasing by 29 places, whereas they dropped 24 places on Health.

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