The online financial platform HelloSafe has released its Global Prosperity Index, evaluating 186 countries based on six criteria: GDP per capita, Gross National Income (GNI) per capita, national savings rate, Human Development Index (HDI), Gini coefficient (a measure of inequality), and poverty rate.
HelloSafe Index Categorizes Countries:
- Very High Prosperity: Score above 60
- High Prosperity: Score between 50-60
- Medium Prosperity: Score between 40-50
- Low Prosperity: Score between 30-40
- Very Low Prosperity: Score below 30
Algeria in the Top 3 in Africa:
Algeria stands out in Africa by securing the third place with a score of 40.36 points, placing it in the medium prosperity category. It is surpassed by Mauritius (41.05 points) and Seychelles (40.77 points), in first and second place respectively.
According to HelloSafe, these three countries enjoy relatively high levels of prosperity for the continent, attributed to economic stability, higher GDP per capita, and more advanced human development. Libya (33.84) and Egypt (33.24) follow, despite facing significant socio-economic challenges, but they benefit from substantial natural resources and historical development contributing to their relative prosperity.
African Ranking:
- Libya (33.84)
- Egypt (33.24)
- Tunisia (32.25), ranking 4th, 5th, and 6th respectively.
- Morocco ranks 8th with 30.02 points. All these are categorized under low prosperity countries.
Nigeria and South Africa score 22.93 and 17.67 respectively, falling into the very low prosperity category. At the bottom of the list are the Central African Republic and Mozambique with scores of 11.35 and 10.88 points, reflecting low GDP, HDI, high inequality, and poverty rates.
European Countries Dominate the Rankings:
European countries largely dominate the list. Luxembourg is the richest, followed by Norway and Ireland. “This ranking reflects the economic strength of these nations combined with high scores in human development and income equality,” explains HelloSafe.
Non-European Countries:
Qatar and Singapore are among the top five non-European countries. The United Arab Emirates ranks 16th with a score of 65.9. The United States (64.0) and Canada (63.7) rank 18th and 19th, respectively, while France closes the top 20 with a score of 60.4.
Saudi Arabia, with a score of 57.07, is in the high prosperity category. Countries like China and Russia fall into the medium prosperity category with scores of 42.69 and 46.69 respectively. Brazil and India are placed in the very low prosperity category with scores of 29.57 and 29.63 respectively.
Focus on the World’s 20 Poorest Countries:
According to HelloSafe, the 20 poorest countries globally are predominantly from Sub-Saharan Africa. “The 20 lowest-ranking countries in the HelloSafe Prosperity Index reflect extremely challenging socio-economic conditions, with scores as low as 10.88 for Mozambique to 17.37 for Swaziland,” the platform notes, basing its data on information from the World Bank and the United Nations Development Programme (UNDP).
The least prosperous countries include the Central African Republic, Madagascar, and the Democratic Republic of Congo, due to low GDP and HDI, alongside high income inequality and poverty rates. Yemen and Afghanistan also appear in this group, marked by prolonged conflicts and instability hindering their development, highlighting the significant need for investment and development to enhance prosperity in these regions.
