Lanka improves ranking on Prosperity Index

The latest Legatum Prosperity Index, which ranks nations according to factors related to wealth and well-being, has placed Sri Lanka at No. 60, up 11 places since 2009 when the country defeated three decades of terrorism.

The Prosperity Index for 2013, compiled by the London-based Legatum Institute, contains data on 142 countries based on 89 variables, spread across eight sub-indices.

The sub-indices include Economy, Entrepreneurship and Opportunity, Governance, Education, Health, Safety and Security, Personal Freedom and Social Capital.

Sri Lanka has seen big improvements in the Economy sub-index, which has contributed to the country's improvements in the overall Prosperity Index. The sub-index has risen 28 places to 74th since 2009, as a result of increases in capital per worker, gross domestic savings, perceived job availability and satisfaction with access to food and shelter.

Over the past five years, Sri Lanka has increased 12 places to 35th in the Social Capital sub-index, due to increases in willingness to help strangers and trust levels. Eighty two percent of people say they can rely on others in times of need while 57 percent believe that Sri Lanka is a good place to live for immigrants.

Norway led the overall rankings for the fifth year, followed by Switzerland, Canada, Sweden, New Zealand and Denmark.

In the South Asian region, India declined to106th, being overtaken for the first time by Bangladesh which ranked at 103rd. Nepal ranked at 102nd while Pakistan remained low in the rankings at 132nd with progress hampered by security-related challenges.