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Iceland Mag

Economy

Iceland drops one place on a global prosperity index, still one of world’s most prosperous countries

By Staff

  • A tolerant and prosperous country According to the report Iceland is not only one of the world's most prosperous countries, it is a particularly tolerant and welcoming place. Photo/Legatum Prosperity Index 2015.

According to the International Prosperity Index Iceland is the 12th most prosperous country in the world, dropping one seat since last year when Iceland was ranked 11th. Iceland is one seat below the US, three seats above the UK.

A country of opportunity and entrepreneurship, welcoming of immigrants
The primary reason Iceland has dropped one place is that Ireland has risen two places, from 12th to 10th, pushing Iceland down one place. Iceland does particularly well when it comes to entrepreneurship and opportunity, ranking 4th, Safety and security, ranking 2nd and personal freedom, ranking 5th in the world.

The index, which is published by the Legatum Institute, which is an independent organization within the Legatum Group whose flagship is Legatum, a private investment firm headquartered in Dubai, looks at more factors than traditional economic indicators to assess the true level of prosperity within different societies. Future economic performance is of course dependent on the general level of prosperity, social capital and welfare, which help foster and attract talent. Iceland seems well positioned in this regard, as it is considered a very good country for immigrants. 90% of Icelanders reporting that the country is a good place for immigrants.

Nordics continue to top the list
The Nordics continue to be among the world’s most prosperous countries, with the other Scandinavian countries are all in the top ten seats of the list, along with Switzerland, New Zealand, Canada, Australia, The Netherlands and Ireland. The US comes in eleventh place and the UK in the 15th place.

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