London: The UAE is ranked the top Arab country in well-being and life satisfaction, according to the Legatum Prosperity Index 2014.
The London-based Legatum Institute released the latest edition of its world prosperity index report last month.
The report reveals that the UAE is among the top countries in safety and security as 92 per cent of people involved in the questionnaires said that they feel absolutely safe in the country.
Abdullah Lootah, Secretary-General of the Emirates Competitiveness Council, said the prosperity index released by Legatum Institute is one of the important reports that measure the levels of prosperity offered by countries to their citizens.
This importance is attributed to the methodology adopted by the publisher of the index which uses rigorous research and in-depth analysis to rank countries based on their performance in eight sub-indices — economy, entrepreneurship and opportunity, governance, education, personal freedom, health, safety and security and social capital.
Global ranking
In economy, the UAE moved from 13th rank in 2013 to the 10th rank this year due to an increase in the gross domestic savings rate, which rose from 33 per cent in 2010 to 43 per cent in 2013, which demonstrates that the UAE population is save their money more than they were four years ago.
The UAE ranked 22 globally with the lowest levels of unemployment with an unemployment rate of only 3.8 per cent of the total labour force.
According to the report, the UAE maintained its 28th ranking globally from among the 142 countries included in the index.
The 2014 Legatum Prosperity Index offers a unique insight into how prosperity is forming and changing across the world.
Now in its eighth year, the Index assesses 142 countries, representing more than 96 per cent of the world’s population and 99 per cent of global GDP.
Launched on November 3, the Index reveals Norway as the most prosperous country for the sixth year in a row, retaining its place due to its high ranking in several sub-indices -- Economy (3rd), Health (5th), Education (5th), Governance (7th), and Personal Freedom (second).
Switzerland is ranked second in the Index for the second year in a row while New Zealand has risen from fifth to third since last year.
The UK is the most prosperous of all the leading major EU nations, coming ahead of Germany (14th), France (21st), Spain (26th) and Italy (37th).
The least prosperous countries are predominantly found in sub-Saharan Africa, with the Central African Republic bottom of the rankings, followed by Chad and Congo (DR).
