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April 19, 2024
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Economy International News Social

Romania Climbs One Spot in the Global Rankings for Living Standards

The NGO Social Progress Imperative partnered with Deloitte to establish the 2022 Social Progress Index (IPS) world ranking. According to the index, for the second year in a row, Romania climbs one spot reaching 43rd place.

”This year, our country is no longer in the last place among the member states of the European Union […]. Romania scores 76.89 points out of 100, a slightly lower score compared to the previous year, but which places it among the countries in the second category”

Social Progress Imperative

Based on the measurement of three key categories, the IPS assesses the social and personal well-being of inhabitants in 169 different nations. The three divisions evaluated are basic needs, well-being, and opportunity, referring to factors such as personal rights, personal freedom and choice, inclusion and so on. The methodology involved assigning a grade like a score, to the components included under each category.

Despite the challenges faced worldwide regarding climate change, inflation, political conflicts, and the post-pandemic evolution, the standard of living and well-being has improved on a global level.

”[…]the study draws attention to the fact that it is possible that next year we will see a regression of the social progress index for the first time. Romania’s advance is rather slow, but I think it could accelerate if we manage to capitalize on our country’s strengths, such as its geographical position and natural resources, competitive workforce, technical skills and data infrastructure, fiscal policies that support growth and significant European funds, by increasing investments in education, health, infrastructure and research and development”

Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova

Romania moves up one position in all three categories under analysis for aspects related to basic requirements (40th place), while moving down one position for those linked to opportunities (46th place) and well-being (51st place)

Source: Social Progress Imperative

European overview of the global ranking

  • Norway leads the way with a score of 90.74 and is followed by Denmark and Finland at the top.
  • The last positions in the world ranking are taken by Chad, the Central African Republic and South Sudan.
  • In Central and East Europe, the leading position is taken by Estonia on 18th place, followed by the Czech Republic (23), Slovenia (27), Lithuania (29), Latvia (32), Croatia (34), Slovakia (35), Poland (39), Hungary (42), Romania (43) and Bulgaria (44).
  • The top two global rankings categories include every EU member state.
  • In terms of quality of life and social well-being, 159 of the examined nations (94%) had improvements between 2011 and 2022, with 79 of those nations (47%) seeing increases of at least five points.
  • The following 10 areas have seen improvements over the past 11 years: housing, access to advanced education, water and sanitation, housing, health and well-being, nutrition and basic healthcare, access to basic education, quality environment, personal safety, and freedom and choice.
  • Personal rights, on the other hand, are among the metrics that have decreased during the studied time period, while inclusion has remained constant.

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