Sri Lanka Ranked 59 in World Prosperity Index. Highest Ranked Country in South Asia

02nd November 2010, www.dailynews.lk, By Rasika Somarathna

Sri Lanka has climbed nine positions from 2009 to be ranked 59 among 110 nations, in the World Prosperity Index - 2010, announced yesterday. Sri Lanka is also the highest ranked country among South Asian nations. In the overall rankings Sri Lanka is just behind China, ranked 58. Among other South Asian nations India has been ranked at 88, Nepal 91, Bangladesh 96 and Pakistan 109.

According to the 2010 report Sri Lanka which went nine places up is also the third highest gainer from 2009. Indonesia jumped 15 places to be ranked 70 and Algeria went up 12 places to be ranked at 79. The 'Legatum' prosperity index assesses 110 countries accounting for over 90 percent of the world's population and is based on 89 different variables, each of which has a demonstrated effect on economic growth or on personal well-being. The index consists of eight sub-indexes, each of which represents a fundamental aspect of prosperity.

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.

The Legatum Prosperity Index is the world’s only global assessment of wealth and well-being. This means it is the only global index that measures both the factors that produce economic growth and those that produce happy citizens.

The eight sub indexes which the report evaluates countries are economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital.

In the overall economic rating Sri Lanka is placed 84th. However Sri Lanka is placed 10th in the world for positive perceptions of the countries economic outlook. Also Sri Lanka enjoys the 24th highest level of foreign direct investment globally. Citing the 2009 survey the report says that 87 percent respondents expressed confidence in the countries financial system in 2009, which is the fourth highest proportion worldwide.

In the education category Sri Lanka’s overall ranking is 56th. However the report states that an enrollment rate of 99.7 percent of primary age children places Sri Lanka fourth highest in the index. Citing the 2009 survey it says that 84 percent has expressed satisfaction in the system.

In the governance category Sri Lanka is placed 43rd. The report states that 94 percent of the population reported confidence in the Government in 2009 survey. Further 65 percent were satisfied with the countries efforts to deal with poverty, 72 per cent with its efforts to preserve environment. Sri Lanka is placed in the top 15 in the two variables.

According to the report most people do not believe corruption to be widespread in government or business, a perception that places the country among the best 25 countries.

The report citing 2009 survey says that a very high 97 percent of citizens have placed their confidence in the Sri Lanka military while 87 percent have confidence in the judicial system. Sri Lanka is placed on the top 10 globally in both categories.

Related Info:
Sri Lanka Fact Sheet - Download PDF File