Wednesday, October 22, 2008, 5:22 GMT, ColomboPage News Desk, Sri Lanka.
Oct 22, Colombo: Legatum Institute investigating prosperity drivers and outcomes in more than 100 countries worldwide has ranked Sri Lanka at 60th place in its World Prosperity Index, 10 notches above neighbouring India
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Sri Lanka ranked 59th on Economic Competitiveness and 61st on Comparative Livability earning the 60th place overall.
Sri Lanka has relatively good levels of mass education and a warm climate, but its ranking is pulled down by a lack of innovation and low levels of invested capital, 2008 Prosperity Index stated. But over time the high mass education level has the potential to turnover the poor innovation index, it said.
The report however warned that the long-term success of the economy remains dependent on the security situation. The security situation has deterred foreign investment, it said.
The report goes on to say that although poor compared to the world average, Sri Lanka has relatively high income levels by the standards of its South Asian neighbours. Based on IMF figures, per capita income is about 50% greater than in India, it says.
Among the South Asian countries, Pakistan ranked 85 while Bangladesh earned a rank of 89 and Nepal was ranked at 98th place.
Australia topped the index followed by Austria and Finland at the second place while the United States, Germany and Singapore ranked 4th.
Oct 22, Colombo: Legatum Institute investigating prosperity drivers and outcomes in more than 100 countries worldwide has ranked Sri Lanka at 60th place in its World Prosperity Index, 10 notches above neighbouring India
angry: ).Sri Lanka ranked 59th on Economic Competitiveness and 61st on Comparative Livability earning the 60th place overall.
Sri Lanka has relatively good levels of mass education and a warm climate, but its ranking is pulled down by a lack of innovation and low levels of invested capital, 2008 Prosperity Index stated. But over time the high mass education level has the potential to turnover the poor innovation index, it said.
The report however warned that the long-term success of the economy remains dependent on the security situation. The security situation has deterred foreign investment, it said.
The report goes on to say that although poor compared to the world average, Sri Lanka has relatively high income levels by the standards of its South Asian neighbours. Based on IMF figures, per capita income is about 50% greater than in India, it says.
Among the South Asian countries, Pakistan ranked 85 while Bangladesh earned a rank of 89 and Nepal was ranked at 98th place.
Australia topped the index followed by Austria and Finland at the second place while the United States, Germany and Singapore ranked 4th.
