[Travel] HelloSafe Prosperity Index: which are the richest countries in the world in 2024?

Methodology

Purpose of the study

The HelloSafe Prosperity Index has been designed to provide a comparative measure of the prosperity of countries, taking into account a combination of economic and social factors. Unlike rankings based solely on GDP, our index incorporates social indicators such as the Human Development Index (HDI) and the Gini coefficient, which reflect the quality of life and economic equity within a country. We have weighted the indicators according to their impact on overall prosperity. For example, GDP per capita has been weighted at 30%, as it remains a key indicator of a country's overall wealth. GNI per capita completes this perspective with a 20% weighting, to include foreign income and show the full range of resources available to citizens. Finally, social indicators such as theHDI and the Gini coefficient strengthen our index, reflecting respectively quality of life (20%) and income inequality (15%), which have a direct influence on people's well-being.

Details of the indicators used

The index is based on six indicators weighted differently to give a score out of 100, representing a country's overall prosperity. Here is a detailed list of the indicators, their sources and the weighting applied:

Indicators	Source	Coefficient	Definition
GDP per capita	World Bank	30 %	Provides a global estimate of wealth produced per capita, highlighting a country's economic capacity to generate resources.
GNI per capita	World Bank	20 %	Provides a comprehensive view of the income available to the population, taking into account international financial flows and the influence of foreign capital.
Gross national savings rate	World Bank	5 %	Reflects a country's ability to save for the future, an essential component of economic stability.
Human Development Index (HDI)	United Nations Development Programme (UNDP)	20 %	Takes into account life expectancy, level of education and per capita income, providing an overall picture of well-being and quality of life.
Gini coefficient	World Bank	15 %	Measures income inequality and shows the extent to which prosperity is distributed among citizens.
Poverty rate	World Bank	10 %	Indicates the proportion of the population living below the national poverty line, an essential aspect of assessing living standards.

The data was mainly collected from the World Bank and the UNDP, which provide standardised and widely recognised information. For countries where data was missing from these sources, we sought alternative data from reliable national statistics.

Reading and analysing the results

In this section, we take an in-depth look at the results obtained using the HelloSafe Prosperity Index. The aim of this analysis is to interpret the scores attributed to each country according to the six indicators selected, and to shed light on their significance. By classifying countries according to their level of prosperity, we will be able to identify global trends and disparities. The categories defined, ranging from countries with very low levels of prosperity to those with very high levels, make it possible to contextualise these results and assess the socio-economic issues facing each country. This analytical approach helps us to better understand the strengths and weaknesses of different nations, while highlighting the importance of convergence between the economic and social dimensions to foster sustainable and inclusive development.

Below 30: countries with very low levels of prosperity
These countries have extremely precarious economic and social conditions, with low GDP per capita, high poverty rates and often marked inequalities. Basic infrastructure, such as access to health and education, is generally inadequate.

Between 30 and 40: countries with a low level of prosperity
Countries in this category show some economic development, but remain limited by low living standards and a low HDI. Income inequality and poverty are common, and their capacity to generate and distribute wealth is still inadequate.

Between 40 and 50: countries with an intermediate level of prosperity
This category includes developing countries with significant economic and social progress. Although poverty and inequality are still present, access to basic services is improving and living standards are relatively stable.

Between 50 and 60: countries with a high level of prosperity
Countries in this category enjoy high standards of living and education, solid infrastructures and a relatively equitable distribution of resources. They have levels of prosperity that enable them to maintain overall socio-economic development.

Above 60: countries with a very high level of prosperity
These countries have dynamic, diversified economies, high living standards, low poverty rates and moderate inequality. They are the most prosperous, with a high savings capacity and strong investment in the well-being of their citizens.

Inclusion and exclusion criteria

All countries for which we have at least 90% of the necessary data have been included in the HelloSafe Prosperity Index. Where essential data, such as GDP per capita or HDI, was missing and could not be supplemented by alternative sources, the country was excluded from the index. For example, countries such as Cuba and North Korea are not included in the ranking due to the lack of available and complete data for several key indicators.

Limitations of the study

The study has several limitations:

• Data availability: In some countries, data on specific indicators (notably the Gini coefficient and the poverty rate) may be out of date or incomplete. Despite the use of alternative sources to fill in missing information, this may impact on the accuracy of the ranking.
• Comparability of indicators: Disparities in poverty lines and income levels between countries can complicate international comparisons, particularly for indicators such as the poverty rate.
• Fixed weights: The weights applied to the indicators are based on an analysis of their relative importance, but they remain fixed for all countries. In reality, the relevance of each indicator may vary from one country to another depending on its specific socio-economic circumstances.

List of countries not included in this study

The following countries have been excluded from the scope of this study due to insufficient data: Andorra, Cuba, Liechtenstein, Monaco, North Korea, South Sudan and Taiwan.

Conclusion and usefulness

The HelloSafe Prosperity Index offers an enriched vision of the global prosperity of countries by taking into account crucial economic and social indicators. This ranking is a valuable tool for travellers, investors and researchers wishing to understand the differences in prosperity between countries, and is distinguished by its multi-dimensional approach.