The latest prosperity rankings for 2017, created by the Legatum Institute, have ranked Canada, Australia, New Zealand and the United Kingdom as the most prosperous countries in the world, with each country placed in the top 10 of 149 countries.
The index ranked each country according to multiple factors which stimulate economic growth and business opportunities, such as social capital, personal freedom, safety & security, health, education and governance.
New Zealand excelled in the rankings, coming 2nd overall (narrowly missing out on first place to Norway). Canada placed 8th, Australia placed 9th, and the United Kingdom placed 10th.
The latest rankings show greater business opportunity, economic growth and investment potential among the CANZUK countries compared to other major global powers, including Germany (11th), the United States (18th) and China (90th).
Each of Canada, Australia, New Zealand and the UK also excelled in individual areas of the index. New Zealand ranked 1st overall in “personal freedom”, which measures “national progress towards basic legal rights, individual freedoms and social tolerances”, while Australia ranked 1st overall regarding “Social Capital”, which measures “the strength of personal relationships, social network support, social norms and civic participation in a country”.
Canada, also ranked 4th regarding “Business Environment” (with the UK close behind at 5th), measuring “a country’s entrepreneurial environment, business infrastructure and labour market flexibility”.
For each year, the CANZUK countries have continually demonstrated growing prosperity, encouraging investment, innovation, trade and social freedoms among their citizens, granting the ideal environment for free trade, free movement and foreign policy cooperation to flourish.
As the CANZUK campaign continues to gain momentum across Canada, Australia, New Zealand and the United Kingdom, the Legatum Institute’s findings confirm the stability of future free movement and trade policies between these countries, especially as the UK negotiates its exit from the European Union and seeks alternatives on the world-stage.
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