Hon Steven Joyce
Minister for Economic Development
3 November 2016 Media Statement

NZ tops Global Prosperity Index

New Zealand has been ranked first in the world in the 2016 Legatum Institute’s Global Prosperity Index, up from fourth position last year.

The index ranks 149 countries according to their performance across eight equally weighted categories. This year New Zealand ranked first for economic quality, first for social capital, second for business environment, second for governance and third for personal freedom.

“This is great news following on from New Zealand’s recent number one ranking in the World Bank’s ease of doing business report, and our rank of thirteenth in the Global Competitiveness Index, up three places from last year,” Mr Joyce says.

“The index cites New Zealand’s ability to turn its wealth into prosperity, ranking us top in how much prosperity a country delivers given its wealth. The top performing countries in that category have open markets, high levels of personal freedom, and strong civil society.

“It also particularly notes our rapidly improving business environment, specifically greater labour market flexibility, better access to business finance, and the expansion of broadband infrastructure.

“This is in line with the Government’s commitment to creating the economic conditions for businesses to prosper and to create more and higher paying jobs for New Zealanders and their families,” Mr Joyce says.

"Our number one ranking is a tribute to the work done by New Zealand companies large and small, the social sector and other government and non-government organisations, to translate New Zealand's natural advantages into real prosperity for all New Zealanders.”

The full index is available here.

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