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Ten Most Economically Prosperous Countries In The World

March 30th, 2011

How prosperous is your country? It’s perhaps one of the most important questions for any citizen living anywhere on earth. Stable and growing economies increase per capita income and promote the overall well-being of its citizens.

The Legatum Prosperity Index’s economy sub-index measures countries’ performances in four areas that are essential to promoting prosperity: macroeconomic policies, economic satisfaction and expectations, foundation for growth, and financial sector efficiency. The sub-index demonstrates the outcomes of sound policies, and an efficient financial sector.

Here’s the Top Ten List :

Hong Kong

#10

Economic prosperity in this former British colony has not at all diminished since it was returned to China in 1997 and became a Special Administrative Region (SAR), subject to its own unique laws and regulations, apart from the country itself. Hong Kong places in the upper quartile on rates of inflation, gross domestic savings, and unemployment. Hong Kong’s vaunted financial institutions are a great strength, as 72% of residents express confidence in their banking system, and just 0.9% of loans are non-performing, placing the region in the top 10 on this variable.

Finland

#9

Finland has a relatively low inflation rate of 4.1% and a domestic savings rate of 25%. Overall optimism about the economy is high, placing Finland 25th on this variable. Annual GDP growth per capita averaged at 3% between 2004 and 2008. Finland is among the world’s top 20 in terms of its rate of high-tech exports and in the top 30 for rates of foreign direct investment. Finland’s banks hold the second lowest rate of non-performing loans, suggesting an exceptionally high degree of banking efficiency.

Australia

#8

With low inflation, high gross domestic savings, and low unemployment, Australia’s macroeconomic fundamentals are sound. High standards of living mirror the country’s macroeconomic position. In 2008, a very high 94.1% of Australians reported being able to afford adequate food and shelter, placing the country 10th in terms of citizens’ satisfaction with overall standards of living. The country’s banking sector is also strong, as Australia has the third lowest rates of non-performing loans and public confidence in financial institutions is well above the global average.

Sweden

#7

The Swedish economy is both productive and stable. At 3.4%, inflation is very low, and a healthy rate of gross domestic savings places the country 32nd, worldwide, in the Index. Citizens’ ability to pay for adequate food and shelter is very good, placing the country 13th overall, while the country places fourth highest with respect to overall satisfaction with standards of living. The country places 11th for citizens’ attitudes towards local employment prospects and 19th with regard to optimism for prevailing economic conditions.

Singapore

#6

This prosperous Asian island-state has an unemployment rate among the five lowest in the Index, at 2.1%. Living standards are high in Singapore, with only a tiny proportion claiming they did not have sufficient financial means to provide their family with adequate food and shelter at any point in 2009, as almost 80% of the population is satisfied with their standard of living. Correspondingly, a very high 83% of the population reports having confidence in the country’s financial institutions, which is the ninth highest proportion.

Canada

#5

America’s northern neighbor has a stable economy with a low rate of inflation, ranking second in the Index. Public satisfaction with living standards was high in 2009, as was universality of access to food and shelter. Canada has a firm foundation for future growth, with a very high value of physical capital per worker, placing 14th, on this variable. With only 1% of loans currently non-performing, public confidence remains high, with 74% of respondents stating their confidence in Canada’s financial institutions.

Denmark

#4

Second overall in the Legatum Prosperity Index, Denmark has a highly developed economy, with strong foundations for future growth. Inflation and unemployment rate place this country amongst the top 20 nations. With less than 1% of the population report having struggled to provide for their families, the lowest rate in the world, Danish citizens reported the highest standard of living. Danes also express a high degree of economic optimism: their confidence in the job market and the overall economic situation are ranked fourth and seventh, respectively.

Netherlands

#3

Though small in physical size, the Netherlands boasts one of the most prosperous economies in the world. Inflation in the Netherlands is the fourth lowest on the Index, and its gross domestic savings is in an above average 28th place. A very high 92% were satisfied with their standard of living. The Dutch were the second most optimistic in the Index regarding local job market opportunities, but their expectations for the economy are only just above the global average and rank 46th in the world.

Switzerland

#2

Switzerland has the third lowest inflation rate in the Index, high gross domestic savings, and very low unemployment. Living standards are among the highest globally with the majority of the population having access to affordable food and shelter, and nine out of 10 expressing satisfaction with their standard of living. Switzerland has a very solid foundation for growth. It has the third highest ratio of physical capital per worker in the Index. Non-performing loans are extremely low at 0.5%, while public perception of the vaunted Swiss financial institutions ranks in the top three.

Norway

#1

Norway, No.1 overall in the Legatum Index, has an unemployment rate at just 2.6%. Norwegians are the second most satisfied in the world with their standard of living. In addition, they are first globally in their levels of optimism about local job market opportunities, and fourth in their general levels of economic confidence. Norway’s capital invested per worker is $177,000, the second highest in the world, and its domestic market is the 24th largest in the world. High-tech exports represent a fifth of Norwegian manufactured goods.

Good To Know

Global Prosperity Index

March 29th, 2011

The 2010 Legatum Prosperity Index™ is the world’s only global assessment of wealth and wellbeing. Now in its fourth year, this edition builds upon previous versions with expanded data and analysis. The Prosperity Index is unique. It starts with a holistic definition of prosperity that includes both material wealth and quality of life.

For the Top Ten :
United States

#10

Despite a dramatic improvement from 2009 on the Health sub-index, from 27th to first, the United ranked 10th overall on this year’s Prosperity Index. A poor ranking in the Safety & Security sub-index (25th), not to mention a consistently mediocre showing in economic fundamentals (14th), no doubt contributed to this year’s dip.

Netherlands

#9

The Netherlands placed at No. 9, due in part to its continued troubles in the Safety & Security sub-index, on which it’s ranked 18th overall in 2010. But a strong showing in the sub-indexes of Economy (third) and Social Capital (fifth) kept the Dutch from dropping out this year’s top 10.

Switzerland

#8

Switzerland placed at number eight on this year’s rankings. Despite excelling, once again, in the sub-indexes of Governance (first) and Economy (second), the Swiss continued to be hurt by a poor showing in the Education sub-index, placing 29th. This, and a No. 19 in Personal Freedom, no doubt attributed to their lower overall performance in 2010.

Canada

#7

Canada continued to just edge out its bigger southern neighbor in terms of prosperity, securing the No. 7 spot, and this time, three ahead of the United States. Canada came in No. 1 in Personal Freedom and ranked in the top five in both Economy and Governance. About the only area Canada did not perform extremely well is Safety & Security, coming in at No. 16 – very high in the overall rankings, but not quite comparable to the northern European nations.

Sweden

#6

As its Scandinavian neighbors, Sweden occupies a lofty place in the Legatum Prosperity Index. The Swedes scored high in just about every category, topped by second place in Entrepreneurship & Opportunity, fifth in Personal Freedom and sixth in governance. In fact, Sweden is the only country to place in the top 11 in every category, with its only non-top 10 ranking in social capital, at No. 11.

New Zealand

#5

Though a small island nation with a population of just over 4 million, New Zealand continued apace as one of the most prosperous countries in the world, ranking No. 5 in this year’s Legatum Prosperity Index. The Kiwis’ renowned education system – ranked No. 1 in the world – is the top reason for New Zealand’s lofty placement, as well as its high rankings in Personal Freedom and Social Capital (both No. 3). About the only “weakness” that hampered New Zealand’s ranking is its heath care system, which came in at No. 19.

Australia

#4

Australia jumped one place to fourth in the Legatum Prosperity Index from 2009 to 2010, thanks to improvements in Education (moving from sixth place to second in the sub-index) and health (from 21th to 15th). Australia maintained consistent rankings in both the Personal Freedom and Social Capital sub-indexes while seeing a slight drop in Economy, from seventh place in 2009 to eighth in 2010.

Finland

#3

For 2010, the country slipped in several sub-indexes, dropping its overall ranking to third. The Scandinavian nation dropped from second to seventh in Governance, from seventh to 12th in Personal Freedom and from seventh to 10th and in Health. Smaller setbacks were found in social capital, moving from sixth place in 2009 to seventh in 2010. Nevertheless, Finland maintained its hold on third place in the education sub-index and made gains over 2009’s rankings in Economy, and Entrepreneurship and Innovation.

Denmark

#2

Denmark ranked second overall in the 2010 Index, placed first in the Entrepreneurship & Opportunity sub-index and second in both Governance and Social Capital. The Scandinavian nation is routinely cited for its business-friendly climate with exceedingly low corruption. Her citizens enjoy low income inequality but the country score slightly lower on the Health sub-index (ranking 17th) than other European nations.

Norway

#1

Norway lands top honors as the world’s most prosperous country, securing the No. 1 position for both its Economy and Social capital sub-index scores and No. 2 rankings for Safety & Security and Personal Freedom. The Nordic country has become something of a byword for prudent governance (though it ranked 12th in the Index’s governance score). During the lean years of the global recession, the country’s unemployment stood at just 3.3 percent. Of course, it doesn’t hurt that Norway possess huge oil and natural gas reserves off its coast, but rather than fall prey to the corruption, excess and irresponsibility that often plague resource-rich nations, Norwegian leaders diligently stowed its oil profits into what is now one of the world’s largest sovereign wealth funds.

For the whole list :

  1. Norway
  2. Denmark
  3. Finland
  4. Australia
  5. New Zealand
  6. Sweden
  7. Canada
  8. Switzerland
  9. Netherlands
  10. United States
  11. Ireland
  12. Iceland
  13. United Kingdom
  14. Austria
  15. Germany
  16. Belgium
  17. Singapore
  18. Japan
  19. France
  20. Hong Kong
  21. Slovenia
  22. Taiwan
  23. Spain
  24. Czech Republic
  25. Italy
  26. Portugal
  27. South Korea
  28. Uruguay
  29. Poland
  30. United Arab Emirates
  31. Kuwait
  32. Chile
  33. Costa Rica
  34. Hungary
  35. Estonia
  36. Israel
  37. Slovakia
  38. Croatia
  39. Greece
  40. Panama
  41. Argentina
  42. Lithuania
  43. Malaysia
  44. Trinidad and Tobago
  45. Brazil
  46. Bulgaria
  47. Latvia
  48. Tunisia
  49. Saudi Arabia
  50. Kazakhstan
  51. Romania
  52. Thailand
  53. Mexico
  54. Belarus
  55. Jamaica
  56. Belize
  57. Botswana
  58. China
  59. Sri Lanka
  60. Mongolia
  61. Vietnam
  62. Morocco
  63. Russia
  64. Philippines
  65. Colombia
  66. South Africa
  67. Paraguay
  68. Dominican Republic
  69. Ukraine
  70. Indonesia
  71. Namibia
  72. Macedonia
  73. Peru
  74. Jordan
  75. Venezuela
  76. Uzbekistan
  77. Ecuador
  78. El Salvador
  79. Algeria
  80. Turkey
  81. Guatemala
  82. Bolivia
  83. Syria
  84. Lebanon
  85. Honduras
  86. Moldova
  87. Nicaragua
  88. India
  89. Egypt
  90. Ghana
  91. Nepal
  92. Iran
  93. Mali
  94. Senegal
  95. Cambodia
  96. Bangladesh
  97. Tanzania
  98. Rwanda
  99. Uganda
  100. Sudan
  101. Zambia
  102. Cameroon
  103. Mozambique
  104. Kenya
  105. Yemen
  106. Nigeria
  107. Ethiopia
  108. Central African Republic
  109. Pakistan
  110. Zimbabwe

Good To Know

Stone Mountain Laser Show

March 23rd, 2011

Stone Mountain is a quartz monzonite dome monadnock in Stone Mountain, Georgia. Bet you cannot understand it. 🙂

It’s true to its name, a mountain of stone. Not mountain of earth/land.

Some dubbed Stone Mountain as “the largest exposed piece of granite in the world”.

Stone Mountain is one of those ‘must-visit’ attractions in Atlanta, Georgia.

The main attraction other than Stone Mountain being a huge stone, is the Memorial Carving on it, that depicts three Confederate heroes of the Civil War: Confederate President Jefferson Davis, General Robert E. Lee and Lt. General Thomas “Stonewall” Jackson, which was completed on March 3, 1972. (It took over 50 years to carve it, although in between the project has been abandoned for years).

There are many attractions and activities for the entire family.
You might need a whole day to enjoy everything, bearing good weather.

Some of the attractions in Stone Mountain Park:

  • Sky Hike™ is one of the country’s largest family adventure courses — a quarter-mile of suspended bridges, ropes and climbing nets.
  • Travel to the top of the mountain on the Summit Skyride and experience the most unique view of Atlanta – however, this depends very much on weather, as service to the mountain top will stop if it rains. So check the weather forecast first!
  • Ride the Scenic Railroad on a lively five mile trip around the mountain.
  • Challenge your family on the 18-hole Mini-Golf course
  • Get active with your kids at The Great Barn®.
  • Experience a movie like you never have before at Georgia’s first 4D Theater.
  • See the sights by land and water during the Ride the Ducks™ tour.

Ride The Ducks is my personal favourite. The Duck vehicles are 1940’s era Army DUKWs, converted into comfortable open-air vehicles for your viewing and listening pleasure. They are amphibian vehicles, able to move on land and on water.

Each duck has a captain, making sure your trip is an enjoyable one with information about the Stone Mountain and the surroundings.
Make sure you tip them if you enjoyed the trip!

Given the number of attractions available one might have trouble planning how to cover all of them.

It’s not easy, so you have the choice to camp in the park, and take your own sweet time to visit all the attractions.

For a single day visit, visitors have choices of the Family Value Pass, One-Day Adventure Pass, or to purchase Individual Attraction Tickets.

Probably not known to many, you can also get discount tickets to Stone Mountain Park.

One of them is from Kroger.

If you’re a fan of baseball, you can even get tickets to Atlanta Braves games with the Atlanta Braves Triple Play Combo Package, with the third choice of admission to Six Flags Over Georgia/Georgia Aquarium/World of Coca-Cola.

Starting Spring every year, Stone Mountain runs the Lasershow Spectacular™.
Seen by more than 20 million people for more than 26 years, the Lasershow Spectacular is a not-to-be-missed Atlanta tradition, so make sure you get there early to get a nice seat on the greens because you can be sure it’s packed!

The Lasershow Spectacular, Stone Mountain’s most popular draw is now improved, by being enhanced with digital, multidimensional projection that adds 3-D-like effects without the glasses.

For more information, spend time and plan your trip with Stone Mountain Park’s website.

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