Norway has been crowned the most prosperousÂ country in the world for the fifth year running.
But the U.S. has dropped out of the LegatumÂ Prosperity Index’s top ten for the first time to 12th position.
According to the annual survey, whichÂ benchmarks 142 countries worldwide, the UK has continued to lag, retaining itsÂ place 13th in the list.
Scandinavian countries have continued toÂ dominate the top of the global index,Â which takes measurements from across eight categories: economy, education,Â entrepreneurship & opportunity, governance, health, personal freedom, safety & security and social capital.
Norway, Denmark and Sweden are ranked first,Â second and third place respectively.
In Europe, overall prosperity has risen, withÂ the Netherlands, Ireland and Germany climbing the rankings into eighth, tenthÂ and 14th position.
However, more than two thirds of EuropeanÂ countries have seen their Economy score fall in the index since 2009 as economicÂ woes sweep across the region.
A new generation of Asian ‘Tiger Cub’Â countries has emerged, with Vietnam, Thailand, Malaysia and Indonesia allÂ performing well.
They are edging closer to Hong Kong,Â Singapore and Taiwan, which all sit in the top 25 countries.
Jeffrey Gedmin, president and chief executiveÂ of the Legatum Institute, said: ‘The Legatum Prosperity Index allows us to paintÂ a comprehensive picture of what makes a country truly successful.
‘It encompassing traditional measures ofÂ material wealth, as well as capturing citizens’ sense of wellbeing — from howÂ safe they feel, to their perceived personal freedom. GDP alone can never offer aÂ complete view of prosperity.
‘We believe that by measuring the quality ofÂ education, healthcare, social capital and opportunity, our Prosperity IndexÂ gives the clearest view of how countries are prospering today and how they areÂ likely to prosper in the future.’
1 – Norway 2 – Denmark 3 – Sweden 4 – Australia 5 – New Zealand 6 – Canada 7 – Finland 8 – Netherlands 9 – Switzerland 10 – Ireland 11 – Luxembourg 12 – U.S. 13 – UK 14 – Germany 15 – Iceland 16 – Austria 17 – Belgium 18 – Hong Kong 19 – Singapore 20 – Taiwan 21 – France 22 – Japan 23 – Spain 24 – Slovenia 25 – Malta