Sri Lanka on the way up

The latest Legatum Prosperity Index has placed Sri Lanka at number 60, an increase of 11 places since 2009.

The Legatum Prosperity Index ranks nations across the globe according to criteria related to wealth and well-being. The 2013 index compiled by the London-based Legatum Institute contains data on 142 countries based on 89 variables across 8 sub-indices. The sub-indices include economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital.

The main reason for Sri Lanka’s rise in the Prosperity Index ratings is due to significant improvements in the economy sub-index since 2009 when the country ended 30 years of civil conflict. Their economy sub-index rose 28 places from 74^th in 2009 to 46^th in 2013. It recorded a GDP growth of 8.3% in 2011 with increased production in tea, coffee, gemstones, coconut, and cinnamon. Dow Jones classified the country as an emerging market in 2010, transitioning into a Middle-Income Country (MIC). Sri Lanka also ranked 8^th in the World Giving Index in September 2010 for its high levels of contentment and charity. Over the past five years since 2009, Sri Lanka has increased 12 places to 35^th in the social capital sub-index of the Legatum Prosperity Index.

Norway led the overall ratings of the 2013 Legatum Prosperity Index for the fifth year, followed by Switzerland, Canada, Sweden, New Zealand, and Denmark. In the South Asia region, India was overtaken by Bangladesh for the first time. Bangladesh was ranked at 102 out of the 142 countries, with India ranked at 106. Nepal was ranked at 102 while Pakistan ranked 132.  

MARTINA NICOLLS is an international aid and development consultant, and the author of:- The Shortness of Life: A Mongolian Lament (2015), Liberia’s Deadest Ends (2012), Bardot’s Comet (2011), Kashmir on a Knife-Edge (2010) and The Sudan Curse (2009).