Prosperity Index: Morocco 96th Most Prosperous Country in the World

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While Morocco’s business environment has significantly improved, its social indicators are lagging behind.

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Morocco has ranked 96th in the world in the 2020 Prosperity Index, falling two ranks compared to 2019.

The index, prepared by the London-based Legatum Institute, measures the level of prosperity in 167 different countries based on 12 social, economic, and political criteria.

Morocco ranked strongest in terms of market access and infrastructure (58th globally), enterprise conditions (61st), investment environment (65th), and safety and security (68th).

The country has climbed 13 ranks over the past decade in terms of market access and infrastructure. According to the report, the climb is due to the significant improvement of Morocco’s infrastructure, particularly its mobile phone market, which enabled the country to have high-speed internet.

Morocco has also risen 19 places since 2010 in terms of investment environment. The report explains that the country’s reforms to strengthen intellectual property rights and investor protections have significantly contributed to the improvement.

The country has made the most progress over the past decade in the criterion of enterprise conditions, climbing 34 ranks. According to the index, the main reason behind such an improvement is the reduction in the amount of time businesses spend complying with regulations.

On the other hand, some of Morocco’s social indicators hindered its overall prosperity score.

The country appeared among the bottom five countries in terms of social capital, ranking 164th globally. The criterion “measures how cohesive a society is in terms of people trusting, respecting and helping one another, and the institutional structures they interact with.”

Morocco also ranked in the bottom half of the index in terms of governance (91st globally), living conditions (95th), economic quality (97th), health (103rd), education (113th), personal freedom (119th), and natural environment (126th).

Morocco in the MENA region

In the Middle East and North Africa region, Morocco ranked 10th in terms of prosperity.

Israel ranked first in the region (30th globally), followed by the UAE (42nd), Qatar (45th), Bahrain (56th), Kuwait (58th), Oman (66th), Saudi Arabia (71st), Jordan (86th), and Turkey (94th).

Morocco, meanwhile, outranked Tunisia (99th globally), Lebanon (105th), Algeria (108th), Iran (120th), Egypt (121st), Iraq (137th), Libya (149th), Syria (158th), and Yemen (165th).

On the global scale, Denmark ranked first, followed by Norway, Switzerland, Sweden, Finland, the Netherlands, New Zealand, Germany, Luxembourg, and Austria.

Other countries that earned an advanced rank in the index include the UK (13th), Australia (16th), the US (18th), France (22nd), and Spain (24th).

Meanwhile, the bottom of the ranking features Eritrea (160th), followed by the Democratic Republic of Congo, Afghanistan, Somalia, Chad, Yemen, the Central African Republic, and South Sudan.

Source: moroccoworldnews.com