.
Daily BulletinHoliday Centre

Daily Magazine

  • Written by News Company

Since 2007, the Legatum Institute, an independent UK educational charity, has been publishing the Prosperity Index, an annual ranking of countries based on prosperity.

However, the Prosperity Index does not rank nations based only on their gross domestic product (GDP) or gross national income (GNI) per capita. The Legatum Institute measures each country’s prosperity according to both economic and social welfare using objective and subjective data.

The annual list considers nine pillars in assessing the overall prosperity ranking of each country. These are:

  • Economic Quality

  • Business Environment

  • Governance

  • Personal Freedom

  • Social Capital

  • Safety and Security

  • Education

  • Health

  • Environment

By considering these nine pillars, human progress is measured by how wealth is forming and changing in each participating nation. The final list effectively captures the real essence of a country’s prosperity level.

Top Ranking Asia-Pacific Countries in 2018

In last year’s index, 27 countries in the Asia-Pacific participated in the survey. The top seven that ranked high on the list are:

New Zealand

This country ranks high in the 2018 Prosperity Index. It is at position number two overall, next to Norway.

This island country places first in terms of social capital. Based on the survey, the citizens are satisfied with the social cohesion and community and family networks they have. They are content with the level of their political participation as well.

Among all participating countries, New Zealand ranks second in personal freedom. This means that the residents enjoy high levels of autonomy, individual liberty, and the protection of civil rights.

New Zealand also scores high in the business environment, governance, and natural environment pillars.

As one of the top countries in the latest Prosperity Index, New Zealand is indeed one of the most prosperous nations in the world, both socially and economically.

Australia

Ranking 13th on the overall list, Australia scores high in social capital. The country has taken the second spot next to New Zealand in this particular pillar.

This reflects how the people of Australia have high levels of trust in the local institutions and their fellowmen. Additionally, they are sure that they can rely on others in times of difficulty or when they need help.

Australia also scores high in education, landing on the eighth spot, and business environment, ranking ninth.

Singapore

This Southeast Asian country has taken the top spot in the health pillar. This demonstrates the nation’s excellent performance in terms of physical and mental wellbeing, maintenance, and the improvement of health institutions and preventive care.

Singapore ranks second in terms of economic quality in the 2018 index. The country also occupies the third spot in the safety and security pillar and is fifth in business environment.

Having successfully reached the 21st spot in the latest index, Singapore may be considered the most prosperous country in Southeast Asia.

Hong Kong

Ranking 22nd in the overall Prosperity Index, Hong Kong ranks highest in the safety and security pillar. This means that the residents of this country generally feel safe and secure on a personal and national level.

The country also ranks high in the business environment (seventh) and health (ninth) pillars.

With Hong Kong only a place behind Singapore, the country remains one of the economic powerhouses in Southeast Asia that also provides an impressive quality of life to the citizens.

Japan

As one of the most highly-developed countries in the world, Japan is on the 23rd spot of last year’s prosperity list.

Japan has placed second in the safety and security pillar, and third in health. This conveys the overall satisfaction of the Japanese with the quality of safety and security they are experiencing on a personal and national level.

Additionally, the residents also enjoy a good quality of health and access to the best healthcare and medical services.

South Korea

Although South Korea moved down the Prosperity Index table by two places, the country is still on the top half of the index. It holds the 35th spot in the latest ranking.

The country ranks highest in education (17th) and health (19th). The residents have access to quality education. In addition, the nation places high importance in developing human capital.

In terms of the health pillar, South Korea performs well in primary health outcomes, providing health infrastructures and preventative care, and in prioritizing the physical and mental wellbeing of their citizens.

Malaysia

Occupying the 44th spot in the overall list, Malaysia continues to be an economic and business powerhouse in Southeast Asia.

Malaysia ranked 22nd in the economic quality pillar. The country has sound economic policies, and the distribution of prosperity is at a satisfactory level as well.

Additionally, Malaysia scores high in the business environment pillar; it landed the 23rd spot. The nation has an entrepreneurial climate that encourages and supports citizens to pursue their business ideas and new opportunities.

By prioritizing both economic and social welfare, these Asia-Pacific countries are on the right track to maintaining and improving their levels of prosperity and quality of life.


The Conversation

Politics

Stepping up trade and cultural ties in the Pacific

Recognising the strong cultural and economic significance that kava has for Pacific communities, including those living in Australia, the Australian Government is stepping up its commitment to the P...

Scott Morrison - avatar Scott Morrison

Prime Minister - Statement on northeastern Syria

The Australian Government is deeply troubled by Turkey’s unilateral military operation into northeastern Syria.   Actions of this nature will have grave consequences for regional security and co...

Scott Morrison - avatar Scott Morrison

David Littleproud Interview with Fran Kelly ABC Insiders

FRAN KELLY: David Littleproud, welcome to Insiders. DAVID LITTLEPROUD: Thanks for having me, Fran. FRAN KELLY: You heard Joel Fitzgibbon there - "Just do something." What and where is the governme...

David Littleproud MP - avatar David Littleproud MP

Business News

Setting Up a Global Business in the 21st Century

In the modern era, there has never been a more globalized economy than what exists today. Nations from all across the world do business with one another, and private companies trade their goods and ...

News Company - avatar News Company

Understanding the Essentials of Operating a B2B Business

In the 21st century, there have been immense changes that our society has seen. From the way that people interact with each other to the immense alterations throughout our culture, the past two deca...

News Company - avatar News Company

How to Start an Ecommerce Smartwatch Business

As the Internet has become more popular in the past few decades, and as people have adopted web-based technologies like smartphones and laptops into their everyday lives, the Internet has become mor...

News Company - avatar News Company

Travel

A First-Timer’s Guide to Whistler

Whistler ranks among the best skiing region in the world. Located in British Columbia in Canada, the resort attracts thousands of skiers and holidaymakers each year. Families bring their children fo...

Anees Saddique - avatar Anees Saddique

Top travel tips for Central and South America

Preparing for your trip to Latin America With tropical beaches to icy glaciers, ancient ruins to natural wonderlands, thick rainforest to wild Patagonian plains, a holiday to Latin American is th...

Digital 360 - avatar Digital 360

Entertainment spots in Queens New York

Vacation is very important, especially when one has been working very hard for a long time. Now to plan a vacation it is always advisable that one research on best places to choose as the destinatio...

Joseph Bracker - avatar Joseph Bracker

ShowPo