Nicaragua prospers according to the 2013 Legatum Prosperity Index

MANAGUA, Nicaragua - Nov. 21, 2013 - PRLog -- Nicaragua improved its overall rank in the recently released Legatum Prosperity Index, climbing eighteen places from its last year score to occupy the 73rd position among 142 countries. The country’s performance was strongest in the economy and the personal freedom sub-indexes.

In the 2013 edition of this report, Nicaragua climbed 27 positions in the economy sub-index to occupy the 56th position in the ranking, rising above the world average for the first time along with four other Latin American countries: Mexico (27th), Chile (30th), Panama (31st), and Brazil (32nd). Some of Nicaragua’s best scores in this category were for confidence in financial institutions (54.5%) and satisfaction with living standards (71.7%).

Nicaragua also stood out in the personal freedom sub-index, occupying the 43rd position and maintaining its place among the top 50 countries for the past five years. Nicaragua’s best scores for this category correspond to civil liberties (4 out of 7), tolerance for ethnic groups (76.7%), and satisfaction with freedom of choice (85%).

Other remarkable variables were Nicaragua scored above the world average were the percentage of people who believe it’s a good place to live for immigrants (72%), think it’s a good time to find a job (42%), say they can rely on others in times of needs (89.4%).

On a region perspective, Latin America outstripped the global average for the first time after every single country showed a marked improvement on previous performance, and six countries ranked in the top 50. According to Legatum, this rise was a result of an increase in per capita income, high-tech exports and self-reported employment status. However, challenges like education and governance still remain.

The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute. The overall prosperity score is based in eight sub-indexes: economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom, and social capital. This Prosperity Index is distinctive as it is the only global measurement of prosperity based on both income and wellbeing.