• Norway's news in English
 
app_header_v3

Norway is world's most prosperous country

The Local · 3 Nov 2014, 11:01

Published: 03 Nov 2014 11:01 GMT+01:00

Legatum Institute's 2014 Prosperity Index ranked Norway as the most prosperous country in the world, with Switzerland at number two on the list.

The rankings are based on eight variables of a country's prosperity performance:

  • Economy
  • Entrepreneurship
  • Governance
  • Education
  • Personal freedom
  • Health
  • Security
  • Social capital

Norway performed best on Social Capital and worst (7th) on Entrepreneurship and Opportunity.

The Nordic nation retained its number one spot from last year, as the top-ranking most prosperous country. New Zealand moved to third place, up two spots from 2013, while Russia slipped to Europe's worst performing country in 68th place.

The study revealed 90 percent of Norwegians believe their country is a good place for immigrants to live, while 94.9 percent said they felt they could rely on their fellow citizens in a time of need.

Less optimistic however was that nearly one-third of Norwegians (29.7 percent) thought corruption in business and government  were widespread. Compare this to the Central African Republic's results - the least prosperous country in the world - where 75 percent of the nation's population believe corruption is widespread.

The study, now in its eighth year, offers a unique insight into how prosperity is forming and changing across the world.

The Index takes into account 142 countries, representing more than 96 percent of the world’s population and 99 percent of global GDP.

Prosperity Index: Top 20

1 Norway

2 Switzerland

3 New Zealand

4 Denmark

5 Canada

6 Sweden

7 Australia

8 Finland

9 Netherlands

10 United States

11 Iceland

12 Ireland

13 United Kingdom

14 Germany

Story continues below…

15 Austria

16 Luxembourg

17 Belgium

18 Singapore

19 Japan

20 Hong Kong

France was just outside the Top 20 in 21st place, Spain was 26th and Italy was The Local's poorest performing country in 37th place.

For more news from Norway, join us on Facebook and Twitter.

The Local (news@thelocal.no)

Your comments about this article

Today's headlines
Rain and records continue to fall in Bergen
There have been only four days in August that didn't require an umbrella. Photo: Emil Breistein / NTB scanpix

The drenched city has set its third rain-related record of the summer and one more is likely.

Norway double murder: Victim wanted to leave husband
A makeshift memorial established for the victims. Photo: Ole-Tommy Pedersen / Finnmarken / NTB scanpix

The woman who was shot and killed along with her 12-year-old son in Kirkenes was in the process of leaving her husband but was worried about her son's immigration status.

Expats say it's not just Norway's weather that's cold
Plenty of nature and free time, but can you find a Norwegian friend to join you? Photo: saipal/Flickr

Norway is one of the hardest countries to settle in to as a foreigners, according to a new survey.

Mother and son killed in Arctic Norway shooting
Flag flies at half mast at Kirkenes Primary School after news that a seventh-grade student was killed. Photo: Ole-Tommy Pedersen /Finnmarken / NTB scanpix

UPDATED: A seventh-grade student and his mother were shot and killed early on Monday in the northern city of Kirkenes.

323 reindeer killed by lightning in Norway
It's unknown whether all 323 animals were killed by one lightning strike. Photo: Håvard Kjøntvedt / Statens naturoppsyn / NTB scanpix

Nature officials say they can't recall such a large number of animals dying from lightning before.

Oh crap! Norwegian gets stuck in loo over phone
The man was apparently overcome by nausea and vomiting. Photo: Björn Larsson Ask /TT file picture

Firemen in Norway came to the rescue Friday of a man who climbed into an outdoor public toilet to retrieve a friend's cell phone, after he got stuck in the tank.

Appeal over Breivik's treatment due in January
Breivik charged Norwegian authorities of violating his human rights by holding him in isolation for almost five years. Photo: Lise Aserud / NTB Scanpix

Norway's appeal against being found guilty of subjecting mass murderer Anders Behring Breivik to "inhuman" treatment by keeping him in solitary confinement, will go to court in January, judicial officials said Friday.

One in four 'on drugs' in Oslo's nightclubs
Photo: Colourbox

City's nightclubs appeal to the police to help cut down drug use.

Philippine ceasefire deal reached in Norway
FM Børge Brende applauds as Philippine government representative Jesus Dureza and Communist representative Luis Jalandoni announce the ceasefire. Photo: Berit Roald/NTB Scanpix

UPDATED: In Oslo, a "major breakthrough" in ending one of Asia's longest running insurgencies.

Norway’s Progress Party wants a burqini ban
Stenersen said the burqini, shown here on a woman at a beach in Tunisia, has no place in Norway. Photo: FETHI BELAID/AFP/SCANPIX

The party's leader in Oslo wants the "cloth prison" barred from Norwegian beaches.

Sponsored Article
6 reasons expats use TransferWise to send money
Frozen effect bringing 'too many tourists' to Norway
Travel
Frozen effect bringing 'too many tourists' to Norway
Sponsored Article
Why you should attend an international job fair
Norway's angel princess divorces novelist husband
Norway's angel princess divorces novelist husband
Norwegian motorist kills 19 reindeer in bloody collision
National
Norwegian motorist kills 19 reindeer in bloody collision
Sponsored Article
Why expats choose international health insurance
'Tick here please': Changing gender in Norway gets easier
Lifestyle
'Tick here please': Changing gender in Norway gets easier
Sponsored Article
Jordan: where history meets adventure
Danish scientist: Mysterious 'blue blob' caused by weather
National
Danish scientist: Mysterious 'blue blob' caused by weather
Norwegian school permits burkini in swimming classes
Education
Norwegian school permits burkini in swimming classes
Norway's ‘biggest sovereignty concession’ to EU in years
National
Norway makes ‘biggest sovereignty concession’ to EU in years
Norway boosts defence against Russia threat
International
Norway boosts defence against Russia threat
Sponsored Article
Five things Americans should know about voting abroad
FACT-CHECK: No, Norway isn’t banning diesel and petrol cars
National
FACT-CHECK: No, Norway isn’t banning diesel and petrol cars – yet
Norway aims to be climate-neutral by 2030
National
Norway aims to be climate-neutral by 2030
Sponsored Article
Why expats choose international health insurance
Migrant numbers plunge as Norway now 'less attractive'
National
Migrant numbers plunge as Norway now 'less attractive'
Sponsored Article
Life in Jordan: 'Undiscovered treasure'
Society
Record number of kids mark Norway's National Day
Take a ride on Norway's most spectacular road
Travel
Take a ride on Norway's most spectacular road
Sponsored Article
Jordan Pass: your ticket to the experience of a lifetime
All 13 on board die in Norway helicopter crash
National
All 13 on board die in Norway helicopter crash
Sponsored Article
Why you should attend an international job fair
National
Norway violated mass murderer's human rights: court
Sponsored Article
Why Jordan is the ‘Different’ East
Modern-day Norwegian Viking conquers Instagram
Lifestyle
Modern-day Norwegian Viking conquers Instagram
2,080
jobs available