Finland is among the top ten countries globally in all the categories analysed in the Prosperity Index framework, which are Economic Fundamentals, Entrepreneurship and Innovation, Democratic Institutions, Education, Health, Safety and Security, Governance, Personal Freedom, and Social Capital. It is these consistently high scores across the board that have lifted Finland from third place in 2008 to the top of the rankings this year.

The Prosperity Index’s analysis highlights several factors for Finland’s success within the categories. For example, Finland’s efficient banking sector is singled out, as are the few barriers to entry for new businesses, the high level of R&D investment, and the considerable spending on education and the development of a highly skilled workforce.

Finland is also described as a very secure country with a stable political system, where people have a great deal of trust in the national institutions and enjoy a high level of civil liberties and personal freedoms.

Legatum Institute is an independent research, policy, and advocacy organisation that promotes political, economic and individual liberty in the developing and transitioning world. The institute is funded by the investment company Legatum Capital.