Uruguay #1 for Prosperity in South America; Venezuela and Bolivia the Worst in the Region

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http://www.prnewswire.com/news-releases/uruguay-1-for-prosperity-in-south-america-venezuela-and-bolivia-the-worst-in-the-region-finds-legatum-prosperity-index-65976987.html


LONDON, Oct. 26 /PRNewswire/ -- The third edition of the Legatum Prosperity Index, published today, ranks 104 countries (covering 90% of the world's population), based on a definition of prosperity that combines economic growth together with measures of happiness and quality of life.

The highest ranking South American countries are Uruguay, Chile and Argentina at 33(rd), 36(th), and 38(th) place respectively, whose citizens all claim high levels of personal freedom. The lowest performing country in the region is Venezuela which is placed at 74(th) on the Index, narrowly led by Bolivia (73(rd)) and Ecuador (71(st)).


Key Findings from the 2009 Legatum Prosperity Index

•Finland tops the overall Index, followed by several European nations such as Britain, Germany and France, as well as the US and Canada which all make the top 20.
•Chile ranks highest among South American countries on Economic Fundamentals while Bolivia and Nicaragua perform lowest on this sub-index.
•Costa Rica scores highest on variables which foster entrepreneurship and innovation which resulted in nearly 4,000 new businesses being created in 2007.
•With the exception of Uruguay and Chile, no South (or Central) American country ranks in the top third of the Index for levels of security with Colombia receiving the lowest possible ranking, globally, on this sub-index. Countries that score lowest on this sub-index tend to be characterised by high rates of homicide, assault, state sponsored violence, internal conflict and human flight.
•Among the lowest ranking countries on measures of stability within democratic institutions are Honduras, Ecuador, Venezuela, and Colombia with the latter three also ranking lowest among South American countries in the Safety & Security sub-index which measures variables such as the homicide rate, the prevalence of state sponsored violence, and human flight.
•The countries which rank lowest in terms of health are Peru, Nicaragua and Bolivia, all of which have high levels of infant mortality and only one hospital bed per 1000 citizens.
•Uruguay ranks very well at 14(th) in the world on levels of personal freedom, as does Brazil at 16(th).
•Venezuela's low rank comes from its poor showings on Economic Fundamentals, Entrepreneurship and Innovation, Safety and Security, and Governance - the latter in which it ranks 101(st), among the worst in the world.
•When compared to Central America, South American countries score comparatively high for levels of education, although when compared globally, these rankings are still only average.
•Low levels of trust between South Americans and a reluctance to rely on family and friends in times of need bring down the overall social capital score among South American countries. Peru ranks last out of all 104 countries on this sub-index.