In this article we will I be discussing the 20th place ranking Malta has received from the Legatum Prosperity Index, and having a look into the areas which were analyzed to be awarded this ranking.
The Legatum Prosperity Index is a framework that assesses countries on the promotion of their residents’ flourishing, reflecting both economic and social wellbeing. It captures the richness of a truly prosperous life, moving beyond traditional macroeconomic measurements of a nation’s prosperity, which rely solely on indicators of wealth such as GDP per capita. It redefines the way success is measured and provides an authoritative measure of human progress.
Malta has been ranked number 20 out of 167 countries, with a overall score of 76.40 in the Legatum Prosperity index, which is an improvement of two places in the last five years. The highest two countries on the list for the 2019 issue are Demark in 1st and Norway in 2nd place. Despite both countries scoring 83.96, Denmark came out on top in terms of individual rankings.
The rankings are decided on several different categories, known as pillars, which are accumulated to give an overall score, which then determines the country’s final ranking. The 12 categories are the following:
Safety and Security – The Safety and Security pillar measures the degree to which conflict, terror and crime have destabilised the security of individuals, both immediately and through longer-lasting effects. Malta was within the top 20 for this ranking, being awarded 19th out of 167
Personal Freedom – The personal freedom pillar measures country-wide progress towards basic legal rights, individual liberties and social tolerance. Malta ranked even higher, being 18th out of 167
Governance – The governance pillar measures to the extent to which there are checks and restraints on power, and whether governments operate and without corruption. Malta has ranked 23rd in this category, just outside of the top 20
Social Capital – The social capital pillar measures the strength of personal and social relationships, social norms and civic participation in a country. Malta proudly ranked 17th out of 167 within this category.
Investment Environment – the Investment Environment pillar measures the extent to which investments are adequately protected and are readily accessible. This is one of Malta’s relatively lower rankings, coming in the 33rd spot
Enterprise Conditions – The Enterprise Conditions pillar measures the degree to which regulations enable businesses to start, complete and expand. Malta gained a respectable 22nd place position for this category.
Market Access and Infrastructure – The Market Access and Infrastructure pillar measures the quality of the infrastructure that enables trade, and distortions in the market for goods and service. This is unfortunately a category which Malta did not improve on from the 2018 rankings, listing at 33rd place.
Economic Quality – The Economic Quality pillar measures how well a state’s economy is equipped to generate wealth sustainability and with the full engagement of its workforce. Malta happily placed 14th in this category, keeping on par with the 2018 result
Living Conditions – The Living Conditions pillar measures the degree to which a reasonable quality of life is experienced by all, including material resources, shelter, basic services and connectivity. Malta narrowly missed out on a top 10 position for this pillar ranking 11th
Health – The Health pillar measures the extent to which people are healthy and have access to the necessary services to maintain good health, including health outcomes, healthy systems, illness and risk factors, and mortality rates. A position of 14th was awarded to Malta for the Health pillar
Education – The Education pillar measures enrolment, outcomes and quality across four stages of education (pre-primary, primary, secondary and tertiary education) as well as skills in the adult population. Malta came in the 35th place for the education pillar, the second lowest ranking awarded to it from all categories.
Natural Environment – The Natural Environment pillar measures the aspects of the physical environment that have a direct effect on people in their daily lives and changes that might impact the prosperity of future generations. This was the lowest ranking Malta received throughout the assessment, ranking in the 41st place. Nevertheless, it is positive to note that this is a two-place improvement from the 2018 rankings.
For a full breakdown of all previous years rankings for Malta, as well as the other 166 countries, you can visit prosperity.com