The Legatum Prosperity Index is a report on the prosperity of each participating country. The index evaluates countries across nine spectrums including economy, education, health, and security.
According to the authors of the Legatum Prosperity Index, prosperity is defined as "more than just the accumulation of material wealth, it is also the joy of everyday life and the prospect of an even better life in the future."
The Legatum Institute is an organization that aims to promote progressive policies that create opportunities for the most vulnerable people. Their goal is to "help identify the pathways that lead from poverty to prosperity."
By looking at the core issues facing the fundamental pillars of society such as personal freedom, governance, environment, and social capital, The Legatum Institute hopes to provide an accessible look into the development of global prosperity.
Overall, Canada ranks 8th in the global rankings. With high marks in the business environment, governance, and social capital, Canada stands head and shoulders above all other countries in one aspect — personal freedom.
Canada ranked as the top country in the world on the pillar of personal freedom. To compare, our neighbours to the south scored 23rd on personal freedom. Canada's closest comparables are New Zealand and Iceland, ranking at 2nd and 3rd, respectively.
Our beautiful country has remained in the same overall position ever since The Legatus Institute began the index in 2007. This indicates that our country is consistently one of the best in the world when it comes to prosperity.
Canada also scored in the top three in business environment. It's true that Canada has seen an influx in economic opportunity in recent years and according to the Legatus Institute, it's something Canada can officially pride itself on.
Despite that, Canada still ranks low in overall economic quality. While the business opportunities are great, Canada still has a ways to go in making those opportunities sustainable.
While some may disagree with this ranking, especially in Quebec and the Indigenous community, Canada consistently is a global leader in personal freedom around the world. We should be proud of that.
But we still have a lot of work to do, Canada!
To check out Canada's complete Legatus Institute profile, click here.
To see the complete Global Prosperity Rankings, please visit the Legatus Prosperity Index's official website.