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World's most prosperous nations: India at 88

Last updated on: November 3, 2010 12:13 IST

World's most prosperous nations: India at 88

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India has slipped 10 places to the 88th spot, way below China, in the World Prosperity Index due to poor healthcare and education systems coupled with a weak entrepreneurial infrastructure.

China is ranked 58th in the list of 110 countries according to London-based Legatum Institute's Prosperity Index 2010. China ranks 30 places higher than India in the overall global rankings and outperforms India on the economy sub-index, where the Asia's second largest economy spots at 24th position.

India ranked low on education ground (89), health (95), entrepreneurship and opportunity (93) and social capital (105).

Besides, economy (44th) and governance (41st) are two measures on which India ranks highest.

The prosperity index is based on 89 variables over 110 countries, grouped into eight sub-indices, and claims to comprehensively rank the level of prosperity in 110 nations of the world.

It is done by taking into account both economic growth and citizens' quality of life, drawing on data from various sources, including the Gallup World Poll 2009 and UN development Report.

Meanwhile, on the lower end of the rankings were Zimbabwe (110), Pakistan (109), Central African Republic (108), Ethiopia (107) and Nigeria (106), states the Legatum Institute's Prosperity Index 2010.

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Image: Gateway of India.

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Norway  (Rank 1)

Norway is among the top 10 economies in the index and citizens are extremely satisfied with the standards of living, says Legatum Institute's Prosperity Index 2010.

In terms of entrepreneurship and opportunity, it is ranked 6th as Norwegians believe their country to be meritocratic and favourable for entrepreneurs.

Ranked 12th in governance, Norway has a highly developed democracy and its government benefits from the sixth most effective bureaucracy in the world.

Ranked 4th in education, Norway is among the top 20 nations on many variables relating to high-quality education, and educational satisfaction is high.

Healthwise, the country is ranked fourth. Norwegians enjoy long healthy lives due to a strong healthcare infrastructure. Norwegian citizens enjoy high levels of personal safety.

It is ranked 2nd in personal freedom as citizens are satisfied with their freedom to choose in life.

Norway's society benefits from high levels of societal trust and social engagement.

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Image: Norway.

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Denmark (Rank 2)

Denmark's strong economy boasts a low unemployment rate and low inflation, but attracts little foreign direct investment.

Denmark offers equal opportunities and a highly favourable climate for entrepreneurship. It has a highly developed democracy, which encourages political participation.

It is ranked 5th in education. The Danish system provides high-quality education at all levels of schooling.

Denmark known to be a peaceful and stable society poses negligible security concerns, and is ranked 17th in terms of healthcare.

In terms of personal freedom, it is ranked 6th. Danish citizens enjoy exceptional personal freedom and are largely tolerant of outsiders. The strong society displays high levels of mutual trust.

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Image: Denmark.

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Finland (Rank 3)

Ranked 9th in terms of its stable economy, Finland has wealthy economy and more than eight out of 10 citizens are satisfied with living.

Finland's strong investment in R&D and communication technology promotes innovation and entrepreneurship. Finns express overwhelming support for their government and institutions, and is ranked 7th in governance.

Ranked third in education, Finland has an excellent education system with exceptionally high university attendance rates.

Ranked 10th, Finnish healthcare is excellent and more than eight out of 10 Finns are satisfied with their health. Finland has few national security issues and its citizens live in safety.

Ranked 12th, Finland is one of the world's freest nations and nine out of 10 Finns are satisfied with their freedom to choose.

Finns are among the most likely people to trust others and more than nine out of 10 feel they can rely on family and friends in times of need. It is ranked fourth in entrepreneurship.

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Image: Finland.

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Australia (Rank 4)

Ranked 8th in terms of economy, Australia has sound macroeconomic fundamentals and a strong basis for future improvements in well being.

It is ranked 13th in entrepreneurship and opportunity. Businesses face very low start-up costs and the country is conducive to innovation.

Ranked 8th in governance, Australia's government is effective and accountable and nearly seven out of 10 Australians approve of their government.

It is ranked second in education. Australia's population is generally healthy, although rates of immunisation can improve, says the Legatum Institute's Prosperity Index.

Ranked 13th, Australians benefit from a country that is secure and keeps them safe. Australians enjoy freedom of choice and live in a tolerant society.

In social capital, it is ranked 4th. Australia enjoys very high levels of social cohesion, although, there is mixed evidence regarding community and family networks.

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Image: A park in Australia.

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New Zealand (Rank 5)

New Zealand's performance is sound on most variables, although GDP growth has been slow in recent years.

In entrepreneurship and opportunity, a moderate degree of innovation emerges amid broad access to opportunity and a reasonable climate for entrepreneurship.

Ranked 4th, New Zealand has a very stable political regime and an effective system of governance.

Ranked 1st in education, New Zealand's strong education system inspires high levels of public confidence.

New Zealand's strong health infrastructure results in a healthy population.

Ranked 7th, the national security does not pose a major challenge, but New Zealanders face concerns over personal safety.

New Zealand has both very high levels of personal freedom and perceived social tolerance. Ranked 3rd, the levels of trust and social engagement in New Zealand are extremely high.

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Sweden (Rank 6)

Sweden's economy is ranked 7th in the world. Despite low rates of growth, Sweden has high standards of living and high expectations for the future.

The country has high levels of innovation and entrepreneurship. In terms of governance, it is ranked 6th with good governance systems in place and the people are very satisfied with its government.

Ranked 10th, Sweden has an outstanding education system. Sweden has good quality healthcare and most citizens have very high expectations.

Ranked 8th, Sweden faces few major security threats, although levels of personal safety are slightly worrying.

In terms of social capital, the company is ranked 5th. Swedes perceive themselves to be a free and tolerant people.

Sweden has a good level of social capital, but citizens are more likely to donate money than time.

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Canada (Rank 7)

Ranked fifth in economic growth, Canada boasts of strong economic fundamentals. The people are satisfied with the living standards.

In terms of entrepreneurship and opportunity, Canada is ranked 10th. Canada has a well developed infrastructure that supports innovation and entrepreneurial activity.

Ranked 5th, Canada has effective and stable democratic institutions, ensuring respect for the rule of law.

In terms of education, it is ranked 12th. Most Canadians are happy with their educational system and its contribution to productive human capital.

With high levels of government health expenditure, Canadians enjoy long life expectancy. Ranked 16th, the demographic and political stability ensures low levels of crime in Canada.

Ranked 1st in personal freedom, high levels of individual freedoms in Canada help to create an extremely tolerant and welcoming society.

Ranked 8th, Canada has a high degree of social cohesion and familial networks are more extensive than religious networks.

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Image: Parliament building, Canada.

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Switzerland (Rank 8)

Ranked 2nd in economic growth, the Swiss economy outperforms all other nations due to sound fundamentals.

Despite high levels of innovation and opportunity, citizens are unimpressed with the entrepreneurial climate.

In terms of governance, the Swiss citizens top the charts with strong confidence in their government and its institutions.

Ranked 29th, the public satisfaction with the Swiss education system results from good access to education and training of the workforce.

The excellent Swiss health infrastructure contributes to a healthy population. Ranked 12th, Switzerland is a safe place to live with relatively few national security challenges. In terms of personal freedom, the Swiss citizens enjoy considerable individual freedom.

In social capital, the country is ranked 6th. The Swiss are highly engaged in their society and put trust in others.

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Netherlands (Rank 9)

Ranked as the third best economy, the country performs very well on most macroeconomic variables and many people have confidence in the financial sector.

In entrepreneurship and opportunity, The Netherlands offers a strong environment for entrepreneurs, as well as excellent access to mobile phones and internet bandwidth.

Ranked 10th in governance, Netherlands has an effective and robust democracy, offering high protection for political rights and civil liberties.

It is ranked 13th in terms of education. The Dutch are satisfied with the education system, though the primary pupil-to-teacher ratio is below the global average.

Ranked 13th in healthcare, the life expectancy and satisfaction with health among the Dutch are both high, although some survey results indicate cause for concern.

The Netherlands has little political insecurity and people feel relatively safe in their everyday lives. The Netherlands has high levels of personal freedom, although tolerance levels of minorities can improve.

The Netherlands is a socially cohesive country with strong levels of civic engagement in society.

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United States (Rank 10)

Ranked 14th in terms of economy, the US scores high on high living standards, but confidence in American financial institutions remains low.

It is ranked third in entrepreneurship and opportunity. Ranked third in governance, regulated and competitive democratic institutions ensure American citizens full political rights.

In terms of education, America is ranked ninth. America's workforce is well-educated and contributes to economic productivity.

Ranked 1st, nearly nine out of 10 Americans are satisfied with their health. Ranked 25th, low levels of crime and demographic instability instill a perception of safety amongst Americans.

Ranked 9th, the American society is welcoming to immigrants and ethnic and racial minorities. The United States has a high level of social cohesion.

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Ireland (Rank 11)

The Irish are worried about the country's mixed economic indicators despite their satisfaction with their standard of living.

It ranks seventh in entrepreneurship and opportunity. Ireland has strong high-tech exports but the public perceive it a poor place for entrepreneurs.

Ireland's effective governance does little to inspire confidence in state institutions. Higher secondary and tertiary enrolment rates produce a well-educated Irish workforce.

The Irish are in good health and have high per capita health expenditure. In terms of safety and security, Ireland is ranked fourth. Its national security inspires perceptions of personal safety.

Ireland guarantees a high degree of personal freedom and tolerance for outsiders. Ranked 10th, the Irish have strong community involvement.

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Iceland (Rank 12)

Iceland's economy is contracting and public confidence in financial institutions is exceptionally low. Its infrastructure supports innovative activity and public perceptions of business opportunities are positive.

The democracy is effective and well-regulated, but the government remains unpopular. Its education system ensures high enrolment rates and a well-educated workforce.

Iceland has an exceptional healthcare system contributing to a very high level of public health. Iceland is a peaceful country, which benefits from low levels of demographic instability and crime.

Icelanders report high levels of satisfaction with individual freedom and tolerance for immigrants and ethnic and racial minorities.

Icelandic citizens are likely to help others through both formal and informal social structures.

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United Kingdom (Rank 13)

The UK economy is strong, but levels of confidence about the job market opportunities and economic growth are limited.

The country has high levels of innovation and a strong infrastructure for entrepreneurship.

The government is transparent with low levels of corruption. The British public is highly satisfied with the educational system, but school enrolment rates could improve, states the Legatum Institute.

UK citizens live long healthy lives, but some suffer from high levels of respiratory infection. The UK has high levels of national security, but the country places 40th in terms of public perception of personal safety.

Civic liberties are high in the UK, as is perceived tolerance for minorities and immigrants. Nearly 10 out of 10 Britons feel that they have friends or family to rely on in times of need.

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Austria (Rank 14)

With the benefit of low inflation and unemployment rates, Austrians are generally satisfied with their economy and standard of living.

Low business start-up costs may encourage an entrepreneurial climate in Austria. Austria is one of the world's most democratic countries, but many lack confidence in the government and elections.

Good access to education and teachers contributes to a high confidence of Austrians in their education system.

While immunisation levels are low, health expenditure is high. Good access to education and teachers contributes to a high confidence of Austrians in their education system.

A stable and safe country overall and four out of five Austrians feel safe walking alone at night. Austrians value and enjoy individual freedom, but the country lags behind in terms of tolerance for immigrants and minorities.

Austrians have a strong sense of community and nine out of 10 feel that they could rely on others in times of need.

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Germany (Rank 15)

The German economy is strong, fostering high standards of living and a satisfied population.

It has high levels of innovation and a strong infrastructure for entrepreneurship.Germans are confident in their political system and electoral process.

Germany's education system is excellent and produces an educated workforce. Its world-class health infrastructure results in a healthy population.

The perceptions of safety are justified given Germany's strong domestic security. German citizens enjoy unrestricted civil liberties and regard themselves as free and tolerant.

Germans are highly involved in community activities and societal trust levels are high.


Image: Germany.

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