Thursday, November 14, 2024

Hong Kong ranks first in Economic Freedom 2018 Rankings

Launched in 1995, the Economic Freedom Index by Heritage Foundation, evaluates countries in four broad policy areas that affect economic freedom: rule of law; government size; regulatory efficiency; and open markets. The economic freedom provides a formula for economic progress and success

The top three countries for economic freedom are Hong Kong, Singapore and New Zealand.

 

Economic Freedom Chart
Economic Freedom Index 2018

 

Top 10 The Most Free

  1. Hong Kong
  2. Singapore
  3. New Zealand
  4. Switzerland
  5. Australia
  6. Ireland
  7. Estonia
  8. United Kingdom
  9. Canada
  10. United Arab Emirates

Bottom 10 – The Least Free

  1. North Korea
  2. Venezuela
  3. Cuba
  4. Rep. of Congo
  5. Eritrea
  6. Equatorial Guinea
  7. Zimbabwe
  8. Bolivia
  9. Algeria
  10. Djibouti

There are 12 specific categories: property rights, judicial effectiveness, government integrity, tax burden, government spending, fiscal health, business freedom, labor freedom, monetary freedom, trade freedom, investment freedom, and financial freedom.  Scores in these categories are averaged to create an overall score.

Based on an average score, each of 180 countries graded in the 2018 Index is classified as “free” (i.e., combined scores of 80 or higher); “mostly free” (70-79.9); “moderately free” (60-69.9); “mostly unfree” (50-59.9); or “repressed” (under 50).

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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