Hong Kong closes gap with Singapore on prosperity index, with institute saying residents enjoy greater level of personal freedom
- Legatum Institute puts Lion City 21st in world, with Hong Kong just one spot back
- Norway, New Zealand and Finland top list of 148 economies
Hong Kong has closed the gap on Singapore with the city’s residents enjoying greater levels of personal freedom, safety and security this year than before, according to a global index released on Wednesday.
The city’s overall ranking jumped two places to 22nd out of 149 economies, while Singapore slipped four places to 21st, according to a prosperity index compiled by British-based independent charity organisation Legatum Institute.
Hong Kong, India and Bangladesh were among the best improvers in the Asia-Pacific region this year from last year, the index showed.
Since its inception 12 years ago, the index has measured people’s standard of living experience by tracking nine elements – business environment, economic quality, education, health, natural environment, governance, personal freedom, safety and security, and social capital.
“Among the 20 countries that rose the most this year, safety and security was their strongest pillar and conversely, in the 20 countries that fell most, it declined significantly,” said Stephen Brien, director of policy at the Legatum Institute.