Monday, 26 October 2020

Colombia, Latin America’s 4th Largest Economy: Prosperity Index

In the Prosperity Sub-Index rankings, Colombia performs best on Business Environment and Personal Freedom and scores lowest on the Safety & Security sub-index.

TODAY COLOMBIA – The Legatum Prosperity Index 2016 ranks Colombia as Latin America’s 4th largest economy.

Overall Colombia ranks 72nd of 149 on the prosperity index., the Legatum reports says, despite positives in Colombia’s economic prosperity, the country has seen a marked decrease in many sub-indices over the last decade, with, as is seemingly the perpetual case globally and not limited to Latin America, economic growth and improvement bolstered at the expense of the Natural Environment.

Colombia, being the most biodiverse country by square kilometre, should be extremely cautious of this fate. Additionally, whilst Personal Freedom and Safety & Security have seen a mild improvement, it appears Colombia’s infamous cartel-government wars, despite the recent peace, have translated into real declines into certain sub-indices of the Prosperity Index.

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In Latin America, Uruguay is the most prosperous, followed by Costa Rica in second place, Chile is 3rd, Panama in 4th place and Argentina fifth.

Visit the Rankings table to see how Colombia compares to other countries.

This is the tenth consecutive study carried out by the Legatum Institute and 149 countries were evaluated on variables such as economics, education, entrepreneurship, governance, health, individual freedom and security, were taken into account to make the ladder.

Globally, New Zealand is the nation that occupies first place of prosperity, followed by Norway, Finland, Switzerland and Canada.

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