The most recent Legatum Prosperity Index reveals that Costa Rica ranks among the most prosperous countries in Latin America, alongside Chile and Uruguay. These three nations stand out in a region where many others struggle with political instability and economic challenges.
According to the report, Costa Rica is ranked 39th in the overall Prosperity Index, which evaluates 167 nations. Remarkably, Costa Rica has maintained this position since 2011, demonstrating consistent performance across several key areas.
The Prosperity Index measures well-being based on factors such as safety, education, health, and quality of life. Chile leads the region, followed by Uruguay in second place, and Costa Rica in third. Each of these nations is recognized for fostering environments where citizens enjoy relative stability and progress.
The report emphasizes that despite a challenging regional context, these three countries have managed to maintain their economic and social stability. This reflects a strong commitment to improving the well-being of their citizens and strengthening their economies, even as neighboring countries face more serious setbacks.
“Costa Rica performs most strongly in Personal Freedom and Natural Environment but is weakest in Economic Quality. The biggest improvement compared to a decade ago came in Investment Environment,” the report notes.
Although these countries have shown progress, the report raises concerns about the overall situation in Latin America. It is the only region in the world where prosperity has declined in the past decade. Factors like increased corruption, erosion of freedoms, and stagnant economic growth contribute to this worrying trend.
The decline is largely attributed to inefficiencies in governance and the weakening of democratic institutions, which in turn have hampered economic development and increased inequality.
While some progress has been made in areas such as personal freedoms, environmental protection, and infrastructure, these advancements have not been enough to fully counter the region’s larger structural problems, including rising unemployment and mounting external debt.
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