Given the $NZ16 billion debt that New Zealand has and the significant infrastructural damage it has sustained from a series of earthquakes I find this analysis quite remarkable.
Singapore by comparison ranks only 16th in their index. So I used their preposterously named 'prosperiscope' to compare the two countries - NZ and Singapore - and see where they believed the difference lay?
Here are the results with New Zealand in black and Singapore in brown.
- Economy - 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
- Entrepreneurship and Opportunity - measures countries’ performances in three areas: entrepreneurial environment, innovative activity, and access to opportunity.
- Governance - measures countries’ performances in three areas: effective and accountable government, fair elections and political participation, and rule of law
- Education - countries’ performances in three areas: access to education, quality of education, and human capital.
- Health - measures countries’ performances in three areas: basic health outcomes, health infrastructure and preventative care, and physical and mental health satisfaction
- Safety and Security - measures countries’ performances in two areas: national security and personal safety. Sub-Index Score. Own Calculations. Data are from 2011
- Personal Freedom - measures countries’ performances in two areas: individual freedom and social tolerance.
- Social Capital - measures countries’ performances in two areas: social cohesion and engagement, as well as community and family networks
As might be expected Singapore is well ahead of the average in terms of the economy
Both countries are level pegging at the global average when it comes to Entrepreneurship and Opportunity.
However according to the Legatum Institute which is an independent non-partisan public policy group based in London, Singapore's ranking fall well short in four areas: Governance, Education, Personal Freedom and Social Capital.
The video below explains how the Legatum Institute arrived at their Prosperity Index.
Video source: The Legatum Institute