UK 13th most prosperous country in the world

Britain ranked as “world leader in entrepreneurship”, ahead of Germany and France, in 2014 Legatum Prosperity Index of 142 countries

The UK has been ranked as the 13th most prosperous country in the world, ahead of Germany and France, in the latest Legatum Prosperity Index from public policy think tank Legatum Institute.

An annual ranking of 142 countries covering 96% of the world’s population, the index claims the be the only global measurement of prosperity based on both income and well-being and analysed countries on the strength of their economy, entrepreneurship, governance, education, health, safety and security, personal freedom and social capital.

While Norway came out top for its economy, freedom and charitable activities, the UK moved up three places on last year’s study and was reported to be “a world-leader in entrepreneurship”, ranking eighth on the entrepreneurship and opportunity sub-index above all large European countries and G7 nations.

The UK was found to be the third cheapest place in the world to start a business with start-up costs at 0.3% of the gross national income, a stark reduction on the start-up costs for America (1.5%), and Germany (4.7%).

In addition, the UK was ranked number one in the world for having the best international internet bandwidth per person and 11th for having the most secure internet servers per person.

From a European outlook, Germany polled in 14th place in the index, France in 21st, Spain in 26th and Italy in 37th place. Russia was the least prosperous country in Europe, falling seven places from 2013 to poll 68th.

The study also assessed rates of prosperity since the financial crisis and found that the UK, Japan, Canada, US, France and Germany, had all recovered at a steady rate, as opposed to the likes of Italy and Greece. See table below:

prosperity since the financial crisis

View the Legatum Prosperity Index in full here.

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