Looking to plan your next trip abroad? Every year, travel destination websites release an annual index of the best countries for your next trip. These rankings are often determined by tourism statistics, consumer trends, and anecdotal evidence.
However, there’s another organization that releases an annual year-end list of the best countries, The Legatum Institute. The Legatum Institute, a London-based think-tank, conducts an annual study of 149 countries concluding with a measure called The Prosperity Index.
The Legatum Institute compiles data from institutions such as the World Health Organization, World Bank, United Nations, and academic databases. This data allows The Legatum Institute to examine a country’s prosperity.
What is Prosperity?
Prosperity is not just an indicator of a strong economy. There are several variables that must be factored in to measure how prosperous a nation is. The Prosperity Index calculates prosperity based on 104 factors.
These factors are then distributed through the institute’s “nine pillars of prosperity.” The nine pillars of prosperity are as follows:
- Economic Quality
- Business Environment
- Governance
- Personal Freedom
- Social Capital
- Safety and Security
- Education
- Health
- Natural Environment
A country that is more prosperous usually performs well across most or all pillars. Countries that underperform in a majority of the pillars obtain average scores, thereby lowering their ranking.
Why are these rankings important for travel?
A country with a low average pillar score may indicate increased risks in security for travelers. For instance, a low “Safety & Security” pillar score may mean threats to personal safety. This can include anything from increased property theft, assault, or the unsafe feeling of walking alone at night.
Countries with strong scores in “Education,” “Business Environment,” and “Personal Freedom,” will have higher social tolerance, giving travelers a feeling of relative ease and safety. Likewise, a high “Natural Environment” ranking can mean travelers can partake in more sustainable travel and tourism.
So, based on the Legatum Prosperity Index, which are the best travel destinations? Here’s a short list of the year’s best countries to visit.
#1 Norway
Maintaining the top spot for the second year in a row, Norway ranks particularly high in the safety and security, social capital, and governance pillars.
As a travel destination, Norway is a country of green spaces. Its natural beauty is unrivaled. Travelers to this Nordic country can experience impressive mountain ranges, Arctic glaciers, coastal fjords and the enigmatic Northern Lights.
#2 New Zealand
Legatum’s second-highest scoring country, New Zealand, is a perennial favorite among travelers. This is thanks to a dynamic Maori culture, world-class adventure experiences, and epic landscapes. Cuisine in New Zealand is creative and exciting, borrowing from many influences that include Western Europe, Southeast Asia, and the South Pacific islands.
Across the Prosperity Index pillars, New Zealand performed best in terms of social capital, personal freedom, governance, and business environment.
#3 Finland
Known as the happiest country in the world, Finland is a winter wonderland.
Finland draws in crowds to its unspoiled forests, stunning Aurora Borealis displays, and culinary excellence. Strong scores in the governance, education, and natural environment pillars helped propel Finland into the third spot in the Prosperity Index.
#4 Switzerland
Maintaining the fourth position for the second year in a row, Switzerland is buoyed by strong performances in education and economic quality.
Famously associated with decadent confectionary and Alpine pursuits, Switzerland has an undeniable rural beauty and uber-cool urban spaces. Variety is the spice of travel life, and Switzerland has a cornucopia of travel experiences, from world-class modern art and avant-garde culture to folkloric fairs featuring gastronomical celebrations.
#5 Denmark
Denmark’s high scores in the social capital, economic quality, and health pillars complement the country’s quality of life and a high degree of contentment. Ranking only second to Finland in terms of happiness, Danes maintain a heart-warming and cheerful disposition, despite annually enduring sunless winters.
Denmark’s egalitarian ideals make it a popular travel destination year after year. Travelers to this Nordic country are catered to, and everyone is made to feel welcome.
Everyone speaks and understands English. We highly recommend taking a boat tour through the canals.
#6 Sweden
Across the Prosperity Index, Sweden ranks well in economic quality and governance. Economic opportunity is of particular note in Sweden. The Swedish economy is one of the most stable in the world, thanks in part to a healthy banking system and low inflation.
Sweden’s robust economic growth over the years has created a dynamic business culture. This has created a unique environment that is attractive to visitors. In fact, travel and tourism are among Sweden’s fastest growing service industry sectors.
#7 United Kingdom
Despite recent economic uncertainty, the United Kingdom remains a desirable travel destination for many visitors. In 2018, the UK welcomed over 40 million overseas visitors into its shores, a record year for the country.
While this record number can be attributed to the fallout of Brexit, the UK has remained a travel priority for many visitors due to its impressive business environment and natural environment scores. From historic university campuses and national parks to city commons, the country is abundant in green spaces.
Final Thoughts
While The Legatum Prosperity Index may be a novel approach to deciding on your next travel destination, the pillars that frame its Prosperity Index are great indicators of the best destinations to visit in 2019.
As Legatum examines a country’s health through several factors important to travelers, using the Prosperity Index is a great guide in planning for your next ultimate vacation destination.
Join Alex and Larry on our journey, as we find love, eat great food, and travel to beautiful destinations. #weloveeattravel