The ranking is based on how inflation and unemployment affect people’s attitude towards the economy. The misery index covers 66 economies. This year’s forecast sees China, Hong Kong and Saudi Arabia doing worse, whilst South Korea joins the top ten least miserable economies.
New York (AsiaNews/Agencies) – Thailand, Singapore and Japan are the "least miserable" economies in the world, this according to the Bloomberg Misery Index, which measures how low inflation and unemployment make people feel about their country’s economy.
In 2017, Thailand ranked first, with a misery value of 1.9, followed by Singapore at 2.8 and Japan at 3.3. The top ten includes Taiwan in sixth place (4.4), Israel in seventh (4.5), Hong Kong in eighth tied with Denmark (4.6), and China in tenth (5.5).
However, China is expected to drop out of the top ten in 2018,. The forecast shows its score rising to 6.3 pushing it into 17th position. Consumer prices are expected to rise 2.3 per cent this year, compared with 1.6 per cent last year. Hong Kong too should drop to 10th place along with Denmark at 5.7.
The decline does not affect the other Asian countries in the top ranks. In 2018, Thailand (2.5) and Singapore (3.2) will keep their respective positions, albeit with a higher misery value.
Japan goes from 3.3 to 3.6 holding onto third position but sharing it with Switzerland. Taiwan (4.9) and Israel (5.2) overtake Iceland in fifth and sixth place. South Korea joins the top ten list, sharing the eighth place with Norway (5.6).
South Korea and Norway have also done well in terms of the Bloomberg 2018 Innovation Index, where they are ranked in first and 15th place. Malaysia deserves a mention, as its improves its position in the Misery Index, moving to 52nd place from 43rd thanks to moderate inflation.
It’s bad news for Saudi Arabia. In 2018, it will take the tenth spot among the most miserable economies, up from 14th, with its misery value going from 12.5 to 15.4.