Poor safety, health drag Philippines' prosperity rank

MANILA, Philippines — The Philippines' prosperity rank further dropped this year due to low scores in education, health and safety.

London-based Legatum Institute's 2014 Prosperity Index ranked the Philippines 67th in the world in terms of five indicators of prosperity: Economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital.

The Philippines fell from 66th place in 2013, but its rank has dwindled since 2009 when the country was 61st most prosperous out of the 142 countries surveyed.

While the biggest global increases in the past six years were seen in areas of entrepreneurship and opportunity and in health, the Philippines continues to lag behind its neighbors Singapore, Malaysia, Thailand and Vietnam.

A radar chart lifted from Legatum Institute website showing eight areas indicating the Philippines' prosperity rank.

The country figured in the lower middle tier in the global rankings in safety and security (111th), health (97th), education (76th) and entrepreneurship and opportunity (75th).

This indicates that Filipinos feel less safe and live in the fear of crime and their government may need to spend more on healthcare.

The education sector in terms of quality and equality also needs a boost, while opportunity evades more Filipinos, making individual economic success less likely.

In terms of economy (40th), personal freedom (50th), governance (55th) and social capital or values (59th), the Philippines is within the upper middle tier of the index.

The annual study aims to redefine prosperity as "beyond gross domestic product" while not removing it as a factor in measuring national success.

"In the absence of an agreed definition, one thing is clear: national prosperity is about more than just money. The outcome of this is the realization that what we measure needs to catch up with what we value," the researchers noted.

The study combines theoretical and empirical research based on existing data on both income and well being using 89 variables.

Norway returns this year as the most prosperous country since 2009, followed by Switzerland, New Zealand, Denmark and Canada in the top five.