December 5, 2017

Finland prospers along with Nordic neighbours

Finland's natural environment helped secure a top standing for the country in the global prosperity report.
Finland's natural environment helped secure a top standing for the country in the global prosperity report.
Visit Finland/Mikko Nikkinen

Finland is the third most prosperous country in the world, according to the latest Legatum Prosperity Index.

Altogether, London-based think tank the Legatum Insitute used nine pillars to measure the prosperity of 149 countries. These covered the economic quality, business environment, governance, personal freedom, social capital, safety and security, education, health and natural environment of the respective countries.

Finland did exceptionally well in terms of governance, where it ranked first in the world, while a third place in education and natural environment helped secure an overall third position for Finland in the report.

The Nordics (Norway, Sweden, Finland, Denmark and Iceland) was the most prosperous region globally meanwhile, ahead of traditional rivals, the Anglosphere countries (Australia, Canada, Ireland, New Zealand, United Kingdom).

The report stated that “citizens [in the Nordics] enjoy some of the highest living standards the world can offer, with an economic model that offers minimal barriers to free trade, fosters private ownership and promotes socially egalitarian outcomes, in conjunction with a generous welfare state”.

Norway regained the top spot from New Zealand this year, while Yemen, Congo and Venezuela scored lowest.

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