The 2019 Legatum Prosperity Index shows that Nepal is currently ranked 115th in the world for overall prosperity, a rise of 13 places since 2009 when it was ranked 128th. “Nepal is 22nd out of the 29 countries in Asia Pacific, which is the most improved region of all seven regions of the world,” reads the report released today globally.
“Over the last one decade, Nepal has seen the biggest improvement in safety and security, in which it rose from 158th to 78th globally, and it has also seen improvements across the other institutional pillars of Personal Freedom and Social Capital,” it reads, adding that despite an improvement in its economic quality, the openness of the economy in Nepal has stagnated, and consequently it has fallen from 117th to 130th in the world rankings in the last 10 years. “Likewise, Nepal is ranked 142nd – the lowest – in the market access and infrastructure category among the eight pillars that ranks the economies.”
The London-based Legatum Institute’s 2019 Prosperity Index released today analyses 167 countries around the world on 12 different measures of prosperity from economic metrics to safety and security, personal freedom, health, education and living conditions.
“Nepal’s peace process, and freedoms guaranteed in the new constitution have positive factors, but Nepal needs to work on improving its investment climate and protecting its environment, “said director of the Metrics Team at The Legatum Prosperity Index Shaun Flanagan.
As personal freedom is important for a country to be prosperous, Nepal improves its ranking to 67th in the world. “The Personal Freedom pillar incorporates elements like freedom of assembly and association, freedom of speech, absence of legal discrimination, and social tolerance,” he said, adding that Personal Freedom is Nepal’s strongest pillar.
The 2019 Legatum Prosperity Index also reveals that global prosperity is at its highest ever level, with 148 out of 167 countries experiencing higher levels of prosperity than a decade ago, mostly in the Asia-Pacific. This increase has been driven by more open economies and improved lived experiences due to better health, education, and living conditions around the world. However, weaker personal freedom and deteriorating governance are holding back further improvements in prosperity.
The Index also reveals that global prosperity continues to improve, but the gap between the strongest and weakest performing countries continues to widen, economies are more open due to improvement in the investment environment and digital connectivity, as well as a reduction in administrative burdens. “Stagnating institutions are holding back further improvements to global prosperity,” it reads, adding that people are more tolerant, but there is less freedom to speak, associate, and assemble.
“Over the last one decade, Nepal has seen the biggest improvement in safety and security, in which it rose from 158th to 78th globally, and it has also seen improvements across the other institutional pillars of Personal Freedom and Social Capital,” it reads, adding that despite an improvement in its economic quality, the openness of the economy in Nepal has stagnated, and consequently it has fallen from 117th to 130th in the world rankings in the last 10 years. “Likewise, Nepal is ranked 142nd – the lowest – in the market access and infrastructure category among the eight pillars that ranks the economies.”
The London-based Legatum Institute’s 2019 Prosperity Index released today analyses 167 countries around the world on 12 different measures of prosperity from economic metrics to safety and security, personal freedom, health, education and living conditions.
“Nepal’s peace process, and freedoms guaranteed in the new constitution have positive factors, but Nepal needs to work on improving its investment climate and protecting its environment, “said director of the Metrics Team at The Legatum Prosperity Index Shaun Flanagan.
As personal freedom is important for a country to be prosperous, Nepal improves its ranking to 67th in the world. “The Personal Freedom pillar incorporates elements like freedom of assembly and association, freedom of speech, absence of legal discrimination, and social tolerance,” he said, adding that Personal Freedom is Nepal’s strongest pillar.
The 2019 Legatum Prosperity Index also reveals that global prosperity is at its highest ever level, with 148 out of 167 countries experiencing higher levels of prosperity than a decade ago, mostly in the Asia-Pacific. This increase has been driven by more open economies and improved lived experiences due to better health, education, and living conditions around the world. However, weaker personal freedom and deteriorating governance are holding back further improvements in prosperity.
The Index also reveals that global prosperity continues to improve, but the gap between the strongest and weakest performing countries continues to widen, economies are more open due to improvement in the investment environment and digital connectivity, as well as a reduction in administrative burdens. “Stagnating institutions are holding back further improvements to global prosperity,” it reads, adding that people are more tolerant, but there is less freedom to speak, associate, and assemble.
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