• Sweden edition
 
Sweden climbs in global prosperity ranking

Sweden climbs in global prosperity ranking

Published: 31 Oct 2012 08:12 GMT+01:00
Updated: 31 Oct 2012 08:12 GMT+01:00

Sweden has risen to be the third most prosperous country in the world, joining its Scandinavian neighbours atop an annual ranking of countries according to wealth and well-being.

In the 2012 Prosperity Index published on Tuesday by the London-based Legatum Institute think tank, Sweden climbed to third place in 2012, up from fifth place in 2011.

Norway, meanwhile, maintained its hold on the number one spot, while Denmark came in second.

Published annually for the last six years, the Prosperity Index ranks 142 countries based on criteria in eight categories including economic strength, health, education and governance.

In the 2012 ranking, Sweden received highest marks in the "Entrepreneurship and Opportunity" sub-index, ranking second overall on the strength of low business start-up costs, high mobile phone penetration, and a high percentage of people who believe they will get ahead with hard work.

According to Legatum Institute CEO Jeffrey Gedmin, the index creates a "comprehensive picture of what makes a country truly successful, encompassing traditional measures of material wealth, as well as capturing citizens’ sense of well-being".

"GDP alone can never offer a complete view of prosperity," he said in a statement.

According to Gedmin, successful countries combine "social responsibility with personal freedom".

Despite continuing economic concerns in Europe, European countries dominated the top ten.

The United States, meanwhile, dropped out of the Prosperity Index top ten for the first time, dropping to twelfth place at what Gedmin called a "pivotal time" as the 2012 presidential elections draw closer.

“As the US struggles to reclaim the building blocks of the American Dream, now is a good time to consider who is best placed to lead the country back to prosperity and compete with the more agile countries that have pushed the US out of the top ten," he said.

The Local/dl

Follow The Local on Twitter

Related links:

Don't miss...X
Left Right

Your comments about this article

10:07 October 31, 2012 by what would thomas paine do
Sweden's "success" is bought with the blood of its serially abused and murdered sick. Planned medical negligence is the new Eugenics.

Sweden is dubbelplusbra:

*Propaganda* is news. Coercion is law. Torture is healthcare.
12:07 October 31, 2012 by EP
So why am I nearly broke every month after I pay my taxes? Is it Sweden that has the prosperity or the people living in Sweden??? If Sweden, the country, well given it has the highest taxes in the world (as per an earlier Local article), then it's hardly surprising.
13:46 October 31, 2012 by HelmiVainikka
@EP Why are you even surprised? You gotta give the sheeple what they want to hear. And if you are born and raised in a country that from the very first breath you take tells you that you belong to the most bad-a$$ motherf*ckers on the planet, I guess people tend to believe in such BS because they don't know anything else.

The US does the same, with the only difference that nobody takes them seriously anymore and the only reason why nobody calls them what they are, a disastrous and bankrupt joke of what they used to be, is because they have a tendency to bomb people who disagree with their agenda.
09:39 November 2, 2012 by Rebel
EP you got it right. It is like in the days of mercantilism where a nation was considered rich if the ruling class had a lot of gold, despite throngs of hungry peasants.

Swedes pay more for products that are inferior, they pay more regressive taxes (i.e. energy taxes of nearly 2/3 of the product) than almost any otehr nation and while one can take the family out to Pizza Hut in the USA without any sense of busting the budget that is not true for this nation.

Sweden is a legend in its own eyes. Sad part is that the only people who believe it are ethnic Swedes who have never really spent time in any otehr western nation and believe the lies of the Swedish media.
18:21 November 2, 2012 by HarryM-B
This prosperity index was not compiled by Swedes. if you read the article again you will see it was comiled by the British London-based Legatum Institute think tank.
13:42 November 3, 2012 by trumanshow
If you live in Sweden on a gross income of 300000kr upwards then life would be ok. Its doubly hard for the relatively small number of people who can't find jobs or are on some sort of arbetsförmedling scheme. I am astounded that Sweden ranks so high for entrepeneurial opportunities. In my experience its a very slow and bureaucratic process and the only way you will succeed is if you can somehow take a slice of the tax money. I have never seen a place where there are so few small businesses. Maybe they are hidden. If you are in the cold and dark half of the year then you really have to believe that where you live has a lot going for it in other ways. Everyone knows that Sweden ranks the pr lists - from the individual to the country itself. Don't, don't, don't believe the hype. Swedes are not fools and thats for sure, constantly presenting themselves to be models of modern living can only benefit them. Other countries could learn that it doesn't pay to wash your dirty laundry in public.
11:43 November 4, 2012 by HorstRadisch
If you grumblers above mean that there are fewer millionaires here than elsewhere, you're probably right. I'm sure the good ole US of A has far more millionaires per capita than Sweden. However, it also has more murders, more crime in general, more poverty, far more people with little or no hope than Sweden has. Also, Sweden's health service and general welfare safety net, whilst far (and sometimes FAR) from perfect, provides a much better society than the supposed Land of the Free (or, as I term it, the Land of the People Who Think They're Free). It costs a lot to eat out regularly, yes. But it doesn't cost much to buy good ingredients and cook for yourself and your family. Which is best for your health and, at least most of the time, the well-being of you and your family? If you think a Pizza Hut meal or a massive helping of McCrap, sorry, McWrap (well, they sound the same) is better than a home-cooked meal, I actually feel sorry for you.

Is Sweden perfect? No, of course it isn't. If it were, 7 billion people would live here and then it would suck beyond all belief. Is anywhere perfect? No, of course not. Switzerland is fantastic, but it's not perfect. Cyprus is great, but it's not perfect. Even Florida's good for a holiday, but ye gods it most certainly ain't perfect!

Is Sweden a fine place to live, if you can put up with the long winters? In my opinion, yes, it is. And I speak as someone who drove a Porsche in the UK and doesn't even own a car here in Sweden today, at least partly for financial reasons, so I don't think anyone would consider me elitist anywhere in Scandinavia, even if I perhaps used to be.
13:04 November 16, 2012 by scandaphile
Some of these whingers need to get out a bit -- out of Sweden, so they can see just how good they've got it.

As for the USA, I call it The Land of the Nothing for Free; former home of the braves.
Today's headlines
Woman charged after accusing beggar of theft
The people in this picture are not those from the story. Photo: TT

Woman charged after accusing beggar of theft

A woman in Gothenburg who accused a beggar of robbing her has been charged with fraud and false accusations. READ () »

Swedish royals set baptism date for princess
Photo: Kungahuset

Swedish royals set baptism date for princess

Sweden's royal family has set the date for the baptism of Princess Leonore. READ () »

The Local List
Evidence Game of Thrones is set in Sweden

Evidence Game of Thrones is set in Sweden

With Swedish Game of Thrones fans frothing at the mouth at the season four premiere, The Local revisits its list of ten reasons why the hit books and show are (probably) based in Sweden. READ () »

'Baffling' Swedish raid on German sub makers
The Kockums Malmö shipyard and FMV headquarters. Files: TT

'Baffling' Swedish raid on German sub makers

After the Swedish military raided the Malmö premises of German defence giant Thyssen Krupp, a military expert tells The Local why recent Russian aggression means Sweden's Saab needs to take control of national submarine production. READ () »

Swedish kids crack adult content 'code' at school
A child, unrelated to the story, on her computer. File photo: TT

Swedish kids crack adult content 'code' at school

Swedish parents who busted their children looking at adult content online were shocked to find the kids saying 'they'd learned the code at school'. READ () »

Industry bellwether SKF recovers to turn profit
A file image of ballbearings. Photo: Shutterstock

Industry bellwether SKF recovers to turn profit

After a drab end to 2013, Swedish ballbearing makers SKF anew posted a profit in its first quarter review. It could spell good news for the manufacturing industry worldwide. READ () »

Swedish Hobbit actor jailed in cocaine case
Swedish actor Mikael Persbrandt. File photo: TT

Swedish Hobbit actor jailed in cocaine case

Swedish actor Mikael Persbrandt has appealed a five-month prison sentence, handed down on Tuesday after he was found guilty of buying cocaine. READ () »

Property of the Week
In Pictures: The Local's Property of the Week
The property in Skinskatteberg. Photo: Fastighetsbyrån

In Pictures: The Local's Property of the Week

The Swedish countryside is littered with small second homes, many up for a steal if you can see beyond dated wallpaper and imagine a country retreat with chanterelles and lingonberries growing in your backyard. READ () »

Puppies lost in 'black market' chihuahua raid
A chihuahua papillon crossbreed puppy. File photo: Shutterstock

Puppies lost in 'black market' chihuahua raid

Thieves escaped from a flat in Malmö on Monday with jewellery, electronics, and four chihuahua-papillon puppies. Police worry the dogs will be sold on the black market, a growing trend in Sweden. READ () »

JobTalk Sweden
Sweden's worst office clichés revealed

Sweden's worst office clichés revealed

"We have to hit the brakes and the gas at the same time." Does your Swedish boss confuse you? You're not alone. Swedes have crowned that phrase as the worst workplace cliché of the year. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
TT
Politics
Swedes to give six-hour workday a go
Advertisement:
TT
Society
Aussie choir member wows Abba in Sweden
YouTube
Society
Stockholm magic a surprise YouTube hit
Fastighetsbyrån
Society
Gallery: The Local's Property of the Week
Private
Society
Swedes find 200-year-old gravestone in living room
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Deepti Vashisht
Features
Deepti Vashisht dissects the magic of Sweden's personal ID number
Shutterstock
Society
Ten signs you've been in Sweden too long
Society
Jimi Fritze heard every word when doctors discussed taking his organs
Society
A Swedish farmer explains why the new bestiality ban is 'pointless'
Society
'Blondes have more brains': Swedish study
TT
Society
VIDEO: Leaked 'Save Slussen' film goes viral
finest.se
Gallery
People-watching, March 28-30
ESL
Sponsored Article
Learning Swedish the easy way
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

723
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com