The United Arab Emirates is the most prosperous Arab nation according to the latest Legatum Prosperity Index that saw Saudi Arabia improve its prosperity more than any other country in the MENA region, climbing 14 ranks in 10 years.
The prosperity index, in its thirteenth year, assesses how well 167 countries promote the economic and social well-being of their residents in three domains: inclusive societies, open promotions and empowered people.
“In the 90 intermediate countries of the Index, those that occupy the 40 to 130 position and that contain 69 percent of the world’s population, is where there is a massive opportunity to develop prosperity. Without neglecting those at the bottom and we take advantage of the lessons of the first 40, we are focused on improving prosperity in this group of countries, “said Philippa Stroud, executive director of the Legatum Institute.
The United Arab Emirates ranked 40 this year, keeping its place among the top 40 for the fifth consecutive year. A decade ago, it was 44. I got a particularly good score in the category of open criticism, which includes the investment environment, business conditions, market access and infrastructure, and economic quality. Within the category of open controls, the UAE ranks third worldwide for the most flexible trade regulations.
Saudi Arabia achieved good results in the category of open controls, which includes business conditions, access to markets and infrastructure, economic quality and investment environment. However, the kingdom is still in the top 10 in personal freedom, according to the report.
Top 10 countries for general prosperity
7. New Zealand
Denmark topped this year’s prosperity index, ranking in the top 10 for each pillar and for having the best living conditions. Norway ranked second, followed by Switzerland, Sweden, Finland, the Netherlands, New Zealand, Germany, Luxembourg and Iceland in tenth place.