x Abu Dhabi, UAEFriday 28 July 2017

Study calls the UAE most prosperous in Middle East

The UAE is the most prosperous country in the Middle East, according to the latest global prosperity index published by Legatum Institute.

The UAE is the most prosperous country in the Middle East, according to the latest global prosperity index.

The Legatum Institute, the London publisher of the index, said the UAE performed well on entrepreneurship and opportunity, as well as safety and security.

"In particular, the UAE has high GDP per capita and the seventh-highest domestic savings rate of all the countries in the index," said Dr Ashley Lenihan, a senior fellow at the Legatum Institute.

The index, which measures the wealth and the well-being of the population as key indicators of prosperity, revealed the UAE population has the highest access to mobile phones in the world.

Good internet service and access to secure servers also helped the ranking as they suggest a strong infrastructure for entrepreneurship.

Ranked as the 30th most prosperous country in the world, the UAE came ahead of Brazil, Russia, India and China. The BRIC countries were ranked 45, 63, 88 and 58 respectively.

In the UAE, 1,041 Emiratis and Arab expatriates were surveyed by Gallup world poll for the index.

According to the index, Emiratis generally enjoy an above-average level of security and safety. Ninety-five per cent of surveyed people said they felt safe to walk home alone at night.

The country is reported to have a relatively low level of refugees and low levels of group grievances based on historical differences.

Globally, Nordic countries topped the index with Norway, Denmark and Finland taking the top three posts respectively.

Pakistan and Zimbabwe were the least prosperous countries in the world, according to the index.

Legatum uses sub-indexes such as the economy, governance, education, health, personal freedom and social capital to compile the index.

The index shows countries in northern Europe are the most well-rounded, prosperous countries in the world.

"The Legatum Prosperity Index is the world's only global assessment of wealth and well-being," Dr Lenihan said.

"It uses a holistic definition of prosperity, which includes factors ranging from economic growth to health and education, to personal freedom and governance."

business@thenational.ae