Bangladesh ranks higher in world's success index

Bangladesh has improved its status by one notch to 95th among 110 nations in a worldwide assessment of wealth and quality of life.

The country was ranked 96th in the last year's Legatum Prosperity Index that provides the only global assessment of national prosperity based on both wealth and well-being.

It assesses 110 countries, which represent over 93 percent of the world's population and 97 percent of the world's GDP, and ranks them on the basis of their performance in eight sub-indices, including economy, governance, personal freedom, and social capital.

The Legatum Institute is an independent non-partisan public policy group based in London.

This year neighbouring India slipped down three notches to 91st from 88th last year while it is the world's one of the fastest growing economies. Sri Lanka has ranked 63rd and Nepal 93rd.

Bangladesh has fared better than Pakistan, ranking 107th, as the index re-crowned Norway in the first place and Denmark in the second. Australia grabbed the third place.

Last two year's bottom-placed Zimbabwe moved one step up, leaving Central African Republic languishing at 110th in this year's ranking.

Bangladesh's economy was ranked 73rd in the index and the institute said despite robust growth in Bangladesh's economy, there remain many obstacles to sustained growth.

The country has come out 92nd in entrepreneurship and opportunity. It said low levels of innovation in Bangladesh are the result of high start-up costs and poor ICT infrastructure.

On governance it ranked Bangladesh at 89th, saying the country's government is repressive and unstable, but highly popular with citizens.

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