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Global Rankings on Economic Freedom


Global Ranking 1 of 4. World Economic Freedom as of 2019

This page primarily focuses on the Heritage Foundation's 25th edition of its Index of Economic Freedom—albeit a total of four global rankings are reviewed. This page imparts a general overview of the contemporary state of the global business sector.


In scoring the Heritage Foundation's 2019 Index of Economic Freedom, the overall degree of economic freedom was based on the following 12 performance measures:


property rights
judicial effectiveness
government integrity
tax burden
government spending
fiscal health
business freedom
labor freedom
monetary freedom
trade freedom
investment freedom
financial freedom

For 2019's 25th edition of the economic freedom index, Hong Kong was ranked as number one. Hong Kong was deemed as the country with the highest score on the overall economic freedom barometer. The graphics below provide a visual synopsis of the economic freedom index. To summarize the 2019 Index of Economic Freedom, the following observations were noted:


Summary Score Country
Highest Score 90.2 Hong Kong
Lowest Score 5.9 North Korea
Average or Mean Score   60.76833333   Saudi Arabia and Kuwait
Middle or Median Score 60.75 Saudi Arabia and Kuwait
Most Frequent or Mode Score 55.4 Belize, Comoros, Mongolia, and Tunisia
Total Countries Surveyed 180 See table below

If an imaginary line was drawn down the middle of the index, then all countries scoring above 60.76833333 would be considered as above average performers on overall economic freedom. All countries scoring below 60.76833333 would be deemed as below average performers on overall economic freedom as of 2019.


By region, of the countries surveyed, the top performing countries in each region were the following:


Country Score Rank Region
Canada 77.7 8 Americas
Hong Kong 90.2 1 Asia-Pacific
Switzerland 81.9 4 Europe
United Arab Emirates     77.6         9     Middle East and North Africa
Mauritius 73.0 25 Sub-Saharan Africa

Static Heat Map | 2019 Index of Economic Freedom
Ranking the World by Economic Freedom | 2019

2019 Index of Economic Freedom | Interactive Graphical Data by DrasticData


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Interactive Tabular Data by DataTables

Global Rankings on Economic Freedom:
ID Country ID Country Name 2019 Country Economic Freedom Score 2019 Country Rank Region Name 2019 Region Rank M01. Property Rights M02. Judical Effectiveness M03. Government Integrity M04. Tax Burden M05. Government Spending M06. Fiscal Health M07. Business Freedom M08. Labor Freedom M09. Monetary Freedom M10. Trade Freedom M11. Investment Freedom M12. Financial Freedom F01: Tariff Rate (%) F02: Income Tax Rate (%) F03: Corporate Tax Rate (%) F04: Tax Burden % of GDP F05: Government Expenditure % of GDP F06: Population (Millions) F07: GDP (Billions, PPP) F08: GDP Growth Rate (%) F09: 5 Year GDP Growth Rate (%) F10: GDP per Capita (PPP) F11: Unemployment (%) F12: Inflation (%) F13: FDI Inflow (Millions) F14: Public Debt (% of GDP)
ID Country ID Country Name 2019 Country Economic Freedom Score 2019 Country Rank Region Name 2019 Region Rank M01. Property Rights M02. Judical Effectiveness M03. Government Integrity M04. Tax Burden M05. Government Spending M06. Fiscal Health M07. Business Freedom M08. Labor Freedom M09. Monetary Freedom M10. Trade Freedom M11. Investment Freedom M12. Financial Freedom F01: Tariff Rate (%) F02: Income Tax Rate (%) F03: Corporate Tax Rate (%) F04: Tax Burden % of GDP F05: Government Expenditure % of GDP F06: Population (Millions) F07: GDP (Billions, PPP) F08: GDP Growth Rate (%) F09: 5 Year GDP Growth Rate (%) F10: GDP per Capita (PPP) F11: Unemployment (%) F12: Inflation (%) F13: FDI Inflow (Millions) F14: Public Debt (% of GDP)

Watch (Where Does the U.S. Rank in World Economic Freedom?)



Global Ranking 2 of 4. World Ease of Doing Business as of 2019


In addition to the Heritage Foundation's Index of Economic Freedom and also from a somewhat different perspective, in 2019, the World Bank Group released the 16th edition of its Doing Business index. The World Bank Group utilized the following 10 measures to gauge the degree of ease it is to do business in a given country:

starting a business or business incorporation
dealing with construction permits
getting electricity
registering property
getting credit
protecting minority investors
trading across borders
paying taxes
enforcing contracts
resolving insolvency

The graphics below provide a visual synopsis of the Doing Business index. Suffice it to say New Zealand scored the highest as the country where it is easiest to do business, and, of the countries surveyed, Somalia scored the lowest.


Doing Business 2019: Training for Reform | World Bank Group graphic
Doing Business 2019: Training for Reform | World Bank Group measures
Doing Business 2019: Training for Reform | World Bank Group ranking table
Doing Business 2019: Training for Reform | World Bank Group ranking map
Watch (World Bank kills 'Doing Business' report after probe concludes pressure on rankings)



Global Ranking 3 of 4. 2018 Global Innovation Index


From the perspective of business innovation, in 2018, the 11th edition was released of the Global Innovation Index (GII). The Global Innovation Index is co-published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO). The Global Innovation Index is comprised of four main measures and a series of sub-measures as depicted in the graphic immediately below:

The overall GII score
The Innovation Input Sub-Index
The Innovation Output Sub-Index
The Innovation Efficiency Ratio

2018 Global Innovation Index | measures

The next table and graphic provide a visual synopsis of the 2018 Global Innovation Index. In its 2018 edition, Switzerland [once again] achieved the honor of being named as the country with the most innovative business climate on Earth. Of the countries surveyed, Yemen was deemed as having a business sector that was least conducive to business innovation.

2018 Global Innovation Index
Country Rank Score Country Rank Score Country Rank Score
Switzerland 1 68.4 Ukraine 43 38.5 Indonesia 85 29.8
Netherlands 2 63.3 Thailand 44 38 Belarus 86 29.4
Sweden 3 63.1 Viet Nam 45 37.9 Dominican Republic 87 29.3
United Kingdom 4 60.1 Russian Federation 46 37.9 Sri Lanka 88 28.7
Singapore 5 59.8 Chile 47 37.8 Paraguay 89 28.7
United States of America 6 59.8 Moldova, Republic of 48 37.6 Lebanon 90 28.2
Finland 7 59.6 Romania 49 37.6 Botswana 91 28.2
Denmark 8 58.4 Turkey 50 37.4 Tanzania, United Republic of 92 28.1
Germany 9 58 Qatar 51 36.6 Namibia 93 28
Ireland 10 57.2 Montenegro 52 36.5 Kyrgyzstan 94 27.6
Israel 11 56.8 Mongolia 53 35.9 Egypt 95 27.2
Korea, Republic of 12 56.6 Costa Rica 54 35.7 Trinidad and Tobago 96 27
Japan 13 55 Serbia 55 35.5 Ecuador 97 26.8
Hong Kong (China) 14 54.6 Mexico 56 35.3 Cambodia 98 26.7
Luxembourg 15 54.5 India 57 35.2 Rwanda 99 26.5
France 16 54.4 South Africa 58 35.1 Senegal 100 26.5
China 17 53.1 Georgia 59 35 Tajikistan 101 26.5
Canada 18 53 Kuwait 60 34.4 Guatemala 102 25.5
Norway 19 52.6 Saudi Arabia 61 34.3 Uganda 103 25.3
Australia 20 52 Uruguay 62 34.2 El Salvador 104 25.1
Austria 21 51.3 Colombia 63 33.8 Honduras 105 24.9
New Zealand 22 51.3 Brazil 64 33.4 Madagascar 106 24.8
Iceland 23 51.2 Iran, Islamic Republic of 65 33.4 Ghana 107 24.5
Estonia 24 50.5 Tunisia 66 32.9 Nepal 108 24.2
Belgium 25 50.5 Brunei Darussalam 67 32.8 Pakistan 109 24.1
Malta 26 50.3 Armenia 68 32.8 Algeria 110 23.9
Czech Republic 27 48.7 Oman 69 32.8 Cameroon 111 23.8
Spain 28 48.7 Panama 70 32.4 Mali 112 23.3
Cyprus 29 47.8 Peru 71 31.8 Zimbabwe 113 23.1
Slovenia 30 46.9 Bahrain 72 31.7 Malawi 114 23.1
Italy 31 46.3 Philippines 73 31.6 Mozambique 115 23.1
Portugal 32 45.7 Kazakhstan 74 31.4 Bangladesh 116 23.1
Hungary 33 44.9 Mauritius 75 31.3 Bolivia, Plurinational State of 117 22.9
Latvia 34 43.2 Morocco 76 31.1 Nigeria 118 22.4
Malaysia 35 43 Bosnia and Herzegovina 77 31.1 Guinea 119 20.7
Slovakia 36 42.9 Kenya 78 31.1 Zambia 120 20.7
Bulgaria 37 42.6 Jordan 79 30.8 Benin 121 20.6
United Arab Emirates 38 42.6 Argentina 80 30.7 Niger 122 20.6
Poland 39 41.7 Jamaica 81 30.4 Cote d'Ivoire 123 20
Lithuania 40 41.2 Azerbaijan 82 30.2 Burkina Faso 124 18.9
Croatia 41 40.7 Albania 83 30 Togo 125 18.9
Greece 42 38.9 TFYR Macedonia 84 29.9 Yemen 126 15

Global Innovation Index | Energizing the World with Innovation
Watch (Global Innovation Index 2018: What's It All About?)



Global Ranking 4 of 4. Corruption Perceptions Index 2018


Finally, from the perspective of corruption, in 2019, Transparency International published the 24th edition of its Corruption Perceptions Index. This particular index focuses on the "perception" of corruption in a given country's public sector. It does not measure actual incidences of corruption. Transparency International broadly defines corruption as "the abuse of entrusted power for private gain."


Although the Corruption Perceptions Index focuses on perceptions of corruption in the public or government sector of society, cheating and corruption also exist in the private or business sector of these same countries. Moreover, where there exists rampant corruption in the public sector, said corruption can spillover into the private sector and adversely impact how the private sector operates. As humans prepare for 22nd century living, they must strive to eliminate corruption in all its forms from all sectors of civil society. Not only does corruption undermine the rule of law and distort the functioning of free institutions in a country's political sphere but also said corruption distorts the efficient functioning of free markets in a country's economic sphere. Corruption is the polar opposite of honesty and transparency. Corruption undermines the general faith and trust of citizens in the integrity of societal institutions.


The next graphic provides a visual synopsis of the Corruption Perceptions Index for 2018. Using a scoring scale of 0 (meaning "highly corrupt") to 100 (meaning "very clean"), in its 2018 edition of the index, Denmark achieved the honor of being named as the least (politically) corrupt country on Earth with an overall score of 88. Of the countries surveyed, Somalia was deemed as being the most (politically) corrupt country on Earth with an overall score of 10. Transparency International further noted that "more than two-thirds of countries score below 50, while the average score is just 43." Perhaps most disturbing is that the vast majority of countries assessed have made little to no progress in taking concrete steps to reduce perceived levels of corruption.


Corruption Perceptions Index 2018 - Transparency International
Watch (Corruption Perceptions Index Explained | Transparency International)


Several related global quality-of-life rankings worth noting include the following ones:

  1. Human Development Index (HDI)

  2. Social Progress Index

  3. Freedom in the World

  4. Vision of Humanity

  5. Global Passport Power Rank




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