The world has changed irrevocably since the financial crisis of 2008. Perceivably, this age is defined by prudence, against which there has been a backdrop of revolution – the Arab Spring uprising – and mass protests – the Occupy movement.
However, while austerity and cuts are an unmistakeable part of the current global environment, there have been some positive developments over the last four years. According to Legatum Institute’s Prosperity Index, global prosperity has actually increased across all of the regions over this time.
Some of the significant findings of the index include the rise of Eastern countries, especially Hong Kong, Singapore and Taiwan, which were all ranked as being one of the top ten performing economies in 2012. Singapore came in third overall, behind Norway and Switzerland.
Equally prominent on the global stage has been the inextricable rise of Asian countries. Indonesia, Malaysia, Thailand and Vietnam, referred to as the Asian Tiger Cubs, are beginning to grow in prominence in the region and the world stage in general.
Indonesia alone has experienced unprecedented growth since 2009, moving up an astonishing 26 places on the prosperity ladder to a respectable 63rd position. Concerted efforts to radically improve education and health in the country have been cited as two driving factors for the transformation.
There have also been positive signs of progress in underdeveloped countries where internal conflict, lack of political transparency, poverty and poor infrastructure have restricted growth. 2012 is seminal in that it has seen 32 new countries emerge on the index.
Though the new additions come from all over the world, sub-Saharan African nations have made the most visible improvements, with 16 of the 32 countries coming from this region.
Notable additions include Afghanistan and Iraq, which have collectively been dogged by sociopolitical turmoil and violence for over a decade.
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