UAE most prosperous nation in region; ranked at No. 30 in world

The UAE has retained its spot as the most prosperous country in the Mena region, and remains ranked among the Top 30 most prosperous nations in the world despite slipping two slots in the 2015 rankings owing to weaker global oil prices.

The London-based think tank Legatum Institute’s Prosperity Index 2015 ranks the UAE first in the Middle East and North Africa (Mena) region and 30th globally.

The annual Prosperity Index ranks 142 countries across eight categories: the Economy; Entrepreneurship & Opportunity; Governance; Education; Health; Safety & Security; Personal Freedom; and Social Capital.

“The UAE’s best performance is in the Economy sub-index, where it ranks 21st in 2015,” the report said.

Five countries in the region make it the Global Top 50, and the UAE (global rank: No. 30) is followed by Kuwait (No. 36), Saudi Arabia (No. 42), Turkey (No. 48), and Morocco (No. 49).

Globally, Norway has been ranked the most prosperous country in the world for the seventh year in a row. Switzerland is ranked 2nd in the Index for the third year in a row while Denmark has risen from 4th to 3rd compared to last year.

The least prosperous countries are predominantly found in sub-Saharan Africa, with the Central African Republic bottom of the rankings for a second year in a row. Six of the bottom 10 countries are in Sub-Saharan Africa. However, many countries in the Middle East also perform poorly: Afghanistan is ranked second from bottom (141st), Syria is ranked 136th and Yemen is ranked 135th.

“The Prosperity Index tells us that human progress goes beyond economics. Norway and other countries at the top of the Index provide opportunity and freedom to their citizens, access to quality healthcare and education, and provide safe environments for people to flourish in,” said Nathan Gamester, Director of the Prosperity Index at the Legatum Institute.

“By contrast those countries or regions of the world where people feel unsafe, where they are forced to flee from their homes, and where the education and healthcare systems are failing do not provide prosperity to their citizens. Sadly this year the Prosperity Index reveals that the world is becoming an increasingly dangerous place. A dramatic decline in Safety & Security in Africa and the Middle East threatens to undermine prosperity across the world. Many European countries are still struggling to grapple with unemployment. The Prosperity Index shows that the world is becoming more prosperous, but ominous developments suggest that this cannot be taken for granted,” he said.

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