The Legatum Institute, a British think tank, ranks Estonia’s prosperity 21st in the world among 167 ranked countries.
According to the Legatum Prosperity Index 2023, Estonia performs most strongly in the natural environment and personal freedom categories, but is weakest in the health category. Overall, though, even in the health category, the country ranks 37th in the world.
Since 2011, Estonia has moved up the rankings table by four places, according to the institute.
Finland is ranked fourth in this year’s index, Latvia is 31st and Lithuania 32nd. Russia is ranked 77th.
The index is topped by Denmark and followed by Sweden and Norway. Switzerland is ranked fifth, the Netherlands sixth, Luxembourg seventh, Iceland eighth, Germany ninth and New Zealand tenth.
The Legatum Prosperity Index analyses the performance of each of the 167 countries on the key characteristics of inclusive societies, open economies and empowered people. The institute uses 12 pillars, comprising 67 different elements, measured by 300 discrete country-level indicators, using a wide array of publicly available data sources, the institute said.
Prosperity is the freedom to thrive
“Prosperity is far more than wealth; it is when all people have the opportunity and freedom to thrive. Prosperity is underpinned by an inclusive society, with a strong contract that protects the fundamental liberties and security of every individual,” according to Legatum.
“It is driven by an open economy that harnesses ideas and talent to create sustainable pathways out of poverty. And it is built by empowered people, who contribute and play their part in creating a society that promotes wellbeing.”
The Legatum Institute is a think tank based in London, the UK, headed by Philippa Stroud, a Conservative member of the House of Lords. Its stated aim is to advance the education of the public in national and international political, social and economic policy.
The annual Legatum Prosperity Index measures prosperity across countries by applying a combination of material wealth and life satisfaction factors. The report has been in continuous publication since its launch in 2007 and has expanded its coverage from 50 countries to 167 in 2020.