Lebanon prosperity ranks 86th globally, 8th in MENA

The Legatum Institute 2009 Prosperity Index ranked Lebanon in 86th place among 104 countries around the world and in eighth place among 13 countries in the Middle East and North Africa (MENA) region, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group. Lebanon also came in last place among 22 upper-middle income countries (UMICs) included in the survey. Globally, Lebanon ranked ahead of Bangladesh, Zambia and Nepal and came behind Mali, Senegal and Bela­rus. The index uses a holistic definition of prosperity to include both material wealth and quality of life. It finds the most prosperous nations in the world are not necessarily those that have only a high level of GDP, but are those that also have happy, free and healthy citizens. The data covers 79 variables grouped into nine sub-indices, each identified as a foundation of long-term prosperity. The index rankings are based on the simple average of the scores of the nine sub-indices for each country.

Lebanon ranked in 75th place globally, ninth place in the MENA region and in 21st place among UMICs on the Economic Fundamentals Sub-Index. This category represents a growing and sound economy that provides opportunities for wealth creation. Globally, Lebanon came ahead of Honduras, Ecuador and Bangladesh, and behind Pakistan, Jamaica and El Salvador. Regionally, Lebanon ranked ahead of Algeria, Iran and Sudan and behind Jordan, Tunisia and Egypt. It also ranked ahead of Venezuela and behind Belize among UMICs.

Lebanon ranked in 66th place globally, in sixth place in the MENA region and 20th place among the UMICs on the Entrepreneurship & Innovation Sub-Index. The category reflects the degree of a favorable environment to new enterprises and the commercialization of new ideas. Globally, Lebanon came ahead of Namibia, Indonesia and Kazakhstan and behind Mongolia, Macedonia and Paraguay. Regionally, Lebanon ranked ahead of Iran, Kuwait and Jordan and came behind Morocco, Tunisia and Egypt. It also ranked ahead of Panama and behind Trinidad & Tobago among UMICs.

Lebanon ranked in 79th place globally, in 8th place in the MENA region and in 20th place among the UMICs on the Governance Sub-Index. This category reflects the degree of an honest and effective government that preserves order and encourages productive citizenship. Globally, Lebanon came ahead of Mali, Pakistan and Cambodia and behind Para­guay, Zambia and Mozambique. Regionally, Lebanon ranked ahead of Algeria, Ye­men and Egypt and came be­hind Jordan, Morocco and Saudi Arabia.

It also ranked ahead of Russia and behind Argentina among UMICs. Finland was perceived as the most prosperous country globally, while Zimbabwe was considered the least prosperous country around the world.

– The Daily Star