TOP 10 rating of economically free countries

The Heritage Foundation has prepared an annual Index of Economic Freedom 2023 based on an analysis of economic freedoms and policies of 184 countries around the world.
For 29 years, the Economic Freedom Index has measured the impact of freedom and free markets around the world, and the 2023 Index confirms the huge positive relationship between economic freedom and progress.

The ranking of countries was formed by a combination of factors such as: trade and investment, property rights, government intervention in the economy, as well as their impact on economic growth and prosperity.

The scale from 0 to 100 is taken as a basis.

Countries with a rating of 80+ belong to free economies, 70-79,9 – mostly free, 60-69,9 – moderately free, 50-59, 9 – mostly unfree and 0-49,9 – repressed.

The rating uses 4 categories with three key indicators in each:

1. The rule of law: property rights, the effectiveness of the judiciary, the integrity of the government;
2️.The size of the government: tax burden, financial condition, government spending;
3️.Regulatory effectiveness: labor freedom, monetary freedom, business freedom;
4️.Open markets: financial freedom, freedom of trade, freedom of investment.
Only 4 countries in the world have a rating of 80 or higher: Ireland, Singapore, Switzerland and Taiwan.
From a regional point of view, Europe ranks 1st in terms of economic freedom, Germany is the leader in Europe.
Canada took 1st place on the American continent.

The UAE has the highest score in the Middle East.

The lowest score category in Turkey is related to the efficiency of the judicial system and the rule of law.

TOP 10 ranking of economic freedom of the countries of the world:

1. Singapore
2. Switzerland
3. Ireland
4. Taiwan
5. New Zealand
6. Estonia
7. Luxembourg
8. Netherlands

Link to source: https://www.heritage.org/index/