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US News and World Report, an American media company, recently released the Best Countries 2022 ranking.
Current Affairs Important Points
What are US News and World Report’s Best Countries 2022 Rankings?
The Best Countries 2022 ranking evaluates 85 countries across 73 attributes, which are grouped into 10 sub-categories, open to adventure, agility, entrepreneurship, trade, social purpose and quality of life.
85 countries were selected based on 4 criteria:
Top 100 countries with highest GDP
- High FDI inflows
- International tourism arrivals between 2016 and 2020
- Top 150 countries in the UN Human Development Index between 2015 and 2019
- This report is a joint effort of US News & World Report, BAV Group and the Wharton School of the University of Pennsylvania. The ranking is based on a survey of experts, business leaders and global citizens.
- The 2022 survey considered the ongoing war in Ukraine, fears of inflation and economic collapse, the aftermath of the COVID-19 pandemic, women’s leadership and global leadership. The “Quality of Life” parameter, which has sub-categories such as good job market, affordability, financially stable, family-friendly, income equality, politically stable and safe public education, is given a higher weightage of 14.52 percent.
How did India fare in this report?
- India ranks 31 out of 85 countries.
- Under the Open-to-Business sub-category, India with cheapest production costs scored 100 percent.
- Its scores are low in other sub-categories:
- In favorable tax environment, it scored 16.2 out of 100
- Scored 18.1 points in non-corruption category
- In transparent government policies, it scored only 3.5 points.
- India’s overall score in the free-trade category is 37
- In the category of quality of life, India scores:
- 9 on income equality
- 3 is safe
- 3 In a well-developed public health system
- 9 is financially stable
How did other countries fare?
- In the overall ranking, Switzerland is at the top, followed by Germany, Canada, the United States and Sweden.
- The US tops several sub-categories, such as power and agility rankings. It was ranked 2nd for Entrepreneurship and 3rd for Cultural Impact.
- Among the top 50 performers, Russia (ranked 36) saw a decline of 12 percent.
- The worst performers in the rankings were Belarus (ranked 85th), Uzbekistan (ranked 84th) and Iran (ranked 83rd).
- The rankings of three of Russia’s allies – Belarus, Kazakhstan and Uzbekistan – fell by nearly 10 places.