Kenya ranked 113 in prosperity index

Kenya has been ranked number 113 globally in the 2019 Legatum Prosperity index.

The index quantifies prosperity in 167 countries across the globe, which together contain 99.4 per cent of the world’s population.

Almost 300 country-level indicators, grouped into 65 policy-focussed elements, are used to measure the current state of prosperity in these countries and how it has changed since 2007.

“Using the Prosperity Index framework, nations around the world can assess their strengths and weaknesses to determine the economic and strategic choices that need to be made to further build inclusive societies, open economies, and empowered people to drive greater levels of prosperity,” reads the report summary.

According to the report, prosperity in Sub-Saharan Africa is at its highest ever level, but it is still the lowest-ranked region, and its deficit with the global average has grown.

Kenya alongside Gabon are examples of the improvements seen across the sub-Saharan Africa region on market access and infrastructure. Kenya’s improvement is also linked to greater transport connectivity and improved border administration.

Kenya ranked 113 globally behind eleven African countries including Rwanda, Mauritius, Seychelles, South Africa, Ghana, Gabon, Senegal, Botswana and Namibia.

Other countries ranked on top of Kenya include Sao Tome and Principe, and Cabo Verde.

Overall, the world is more prosperous than it has ever been, with Denmark overtaking Norway as the strongest performer.

North America remains the most prosperous region, although, because of its prosperity stagnating, the gap with Western Europe has narrowed.

Of the 167 countries measured and tracked for prosperity in this year’s index, 148 (containing 88 per cent of the world’s population) have seen an improvement in their prosperity since 2009. Although Myanmar (124th) has seen the most improvement in prosperity, government treatment of the Rohingya Muslims is cause for concern.

Togo (144th) and Kyrgyzstan (88th) are the second and third most improved countries, rising 14 and 18 ranks respectively.

Each of the seven world regions contributed to the rise in global prosperity. The Asia-Pacific region saw the greatest improvement and accounts for most of the global increase.

The region has seen the greatest improvement in 8 of the 12 pillars of prosperity over the past decade, including in all four of the economic pillars.

Such is the improvement in prosperity in the Asia-Pacific region that it has closed the prosperity gap with Latin America and the Caribbean.

Not all nations contributed to the rise in global prosperity, with 19 countries experiencing deterioration over the past decade, of these 19 countries, 15 are in sub-Saharan Africa or the Middle East and North Africa.

Syria (157th), Yemen (166th) and Venezuela (143rd) saw the greatest declines, falling 23, 7 and 27 places respectively in the rankings.

Australia was the only country of the 29 countries in the Asia-Pacific region that saw a decline in prosperity,as a result of deteriorating enterprise conditions and a decline in its economic quality.