South Africa is ranked 48th in the world in delivering prosperity to its citizens‚ according to the 2016 Legatum Prosperity Index.
The country’s overall performance is‚ however‚ limited by apartheid-era imbalances‚ specifically regarding health and safety issues‚ which still represent immense challenges and impede South Africa’s overall performance‚ the index says.
The index measures prosperity and gives a “truer” picture of a country’s performance.
It ranks 149 countries over nine areas of potential success or failure: economic quality‚ business environment‚ governance‚ education‚ health‚ safety and security‚ personal freedom‚ social capital and the natural environment.
New Zealand‚ according to the index‚ is the most prosperous country in the world. Other top-ranking countries are Finland‚ the UK‚ Canada‚ and Australia. These countries have in common open markets‚ high levels of personal freedom‚ and strong civil society.
South Africa fares well in prosperity when compared to its African counterparts‚ and is only exceeded by Mauritius.
“In delivering prosperity‚ South Africa sits in the front row when compared to its African peers. Its most notable performances come in the governance and personal freedom sub-indices‚ where the country has its biggest prosperity surplus.
“These structural foundations extend also to strong society and a competitive business environment‚ which help keep South Africa’s prosperity at a relatively high level.”
South Africa‚ the index shows‚ is an upper-middle income country that delivers slightly more prosperity as expected given its wealth.
“Since 2007‚ the biggest change has occurred in the Social Capital sub-index‚ with a 53 rank improvement coupled with a significant prosperity surplus.”