The average for 2024 based on 175 countries was 62 points. The highest value was in Denmark: 93 points and the lowest value was in North Korea: 5 points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

Singapore led the Index of Economic Freedom in 2024, with an index score of 83.5 out of 100. Switzerland, Ireland, Taiwan, and Luxembourg rounded out the top five. Economic Freedom Index In order to calculate the Economic Freedom Index, the source takes 12 different factors into account, including the rule of law, government size, regulatory efficiency, and open markets. All 12 factors are rated on a scale of zero to 100 and are weighted equally. Every country is rated within the Index in order to provide insight into the health and freedom of the global economy. Singapore's economy Singapore is one of the four so-called Asian Tigers, a term used to describe four countries in Asia that saw a booming economic development from the 1950s to the early 1990. Today, the City-State is known for its many skyscrapers, and its economy continue to boom. It has one of the lowest tax-rates in the Asia-Pacific region, and continues to be open towards foreign direct investment (FDI). Moreover, Singapore has one of the highest trade-to-GDP ratios worldwide, underlining its export-oriented economy. Finally, its geographic location has given it a strategic position as a center connecting other countries in the region with the outside world. However, the economic boom has come at a cost, with the city now ranked among the world's most expensive.

China: Business freedom index (0-100): The latest value from 2024 is 68 points, unchanged from 68 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for China from 1995 to 2024 is 56 points. The minimum value, 43 points, was reached in 2006 while the maximum of 80 points was recorded in 2021.

As of 2020, the business freedom sub-score on the Economic Freedom Index for Egypt was 62. This was a decline of 3.9 points from the preceding year. From 2000 to 2020, the Egyptian value ranged between 39.8 points in 2006 and 71.5 in 2018. Between 2000 and 2007, the Egyptian sub-score was lower than both the African and the world averages. Moreover, from 2008 to 2020, the sub-score was higher than the African average. In comparison to the world average, the business freedom in Egypt was higher between 2009 and 2011, and between 2015 to 2019. According to the index, business freedom in Egypt was considered "moderately free" as of 2020.

Russia: Business freedom index (0-100): The latest value from 2024 is 54 points, a decline from 55 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for Russia from 1995 to 2024 is 63 points. The minimum value, 51 points, was reached in 2011 while the maximum of 85 points was recorded in 1995.

In 2025, the business freedom sub-score for Israel, as part of the Economic Freedom Index, was 73.4. This represented a sharp decrease of over seven points from the previous year.

Turkey: Business freedom index (0-100): The latest value from 2024 is 59 points, a decline from 60 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for Turkey from 1995 to 2024 is 66 points. The minimum value, 55 points, was reached in 2002 while the maximum of 85 points was recorded in 1995.

As of 2023, the business freedom sub-score on the Economic Freedom Index for Tunisia was ****, which was a decrease of *** points from the previous year. The business freedom score ranged between ** points from 2000 to 2005 and **** points in 2012. Throughout the period under investigation, the Tunisian sub-score was higher than the world average as well as the African average, except for 2022 and 2023.

This dataset shows Qatar’s score and ranking in the Economic Freedom Index. The index is based on rule of law, government size, regulatory efficiency, and market openness.

Chile: Business freedom index (0-100): The latest value from 2024 is 79 points, an increase from 76 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for Chile from 1995 to 2024 is 75 points. The minimum value, 65 points, was reached in 2010 while the maximum of 85 points was recorded in 1995.

This statistic describes the business freedom score of Saudi Arabia on the Economic Freedom Index ranking from 1998 to 2018. According to the 2018 ranking, Saudi Arabia scored on business freedom of the Economic Freedom index 74 compared to the world average is 64.8. Saudi Arabia is considered in this regard mostly free.

This statistic describes the business freedom score of Indonesia on the Economic Freedom Index ranking from 1995 to 2018. According to the 2018 ranking, Indonesia reached a business freedom score of 57.3 compared to the world average with 64.9. With this result, Indonesia´s business freedom can be considered as mostly unfree from an economic point of view.

Dominica: Business freedom index (0-100): The latest value from 2024 is 64 points, unchanged from 64 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for Dominica from 2009 to 2024 is 71 points. The minimum value, 56 points, was reached in 2022 while the maximum of 81 points was recorded in 2012.

South Korea: Business freedom index (0-100): The latest value from 2024 is 85 points, unchanged from 85 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for South Korea from 1995 to 2024 is 82 points. The minimum value, 70 points, was reached in 1995 while the maximum of 94 points was recorded in 2012.

Despite the significance of economic freedom in tourism dynamics, especially from a spatial standpoint, its nuanced influence remains unexplored mainly in current research. To fill this gap, our study introduces a novel spatial panel data analysis to investigate how various components of the economic freedom index affect tourist arrivals in 41 European countries from 2005 to 2018. By employing this innovative approach, we uncover the complex interdependencies between economic freedom and tourism and highlight the significance of regional economic characteristics on the tourism sector’s health. Our findings reveal that a one percent increase in GDP per capita of neighboring nations corresponds to a 0.4 percent increase in tourist arrivals to the home country. In comparison, a similar rise in neighboring countries’ prices leads to a 0.4 percent decrease in inbound tourists. Most economic freedom variables, including the Business Freedom Index, Investment Freedom Index, Labor Freedom Index, Trade Freedom Index, and Government Integrity Index, demonstrate statistically significant positive effects. However, a one percent increase in the Monetary Freedom Index of neighboring countries results in a 0.747 percent reduction in homebound tourists. Notably, enhancements in the country’s and neighboring countries’ Investment Freedom Index and Government Integrity Index contribute to increased arrivals. This research contributes to the broader understanding of economic policies’ impact on tourism, offering valuable insights for policymakers aiming to leverage economic freedom for tourism development. The application of a spatial panel data approach marks a significant methodological advancement in tourism studies, opening new avenues for analyzing economic influences on tourism at a regional level.

The Index of Economic Freedom since 1995 has annually evaluated 177 countries on a scale from 0 to 100 in 12 categories of economic freedom. Each country receives an overall score reflecting the average of the category scores. The 4 categories of economic freedom are: 1) Rule of Law (property rights, government integrity, judicial effectiveness) 2) Government Size (government spending, tax burden, fiscal health) 3) Regulatory Efficiency (business freedom, labor freedom, monetary freedom) 4) Open Markets (trade freedom, investment freedom, financial freedom) Visit the Economic Freedoms interactive website for the latest report, country ranking, data graphs, heat maps, data exploration and downloads.

As of 2020, the business freedom sub-score on the Economic Freedom Index for Ethiopia was ****, which was the same as 2019. Between 2000 and 2020, the business freedom sub-score fluctuated between **** in 2018 and **** in 2011. The Ethiopian sub-score surpassed the world average in the years 2010 and 2011 only. Moreover, between 2000 and 2005, 2013, and between 2017 to 2020, the Ethiopian business freedom was below the African average, while between 2006 and 2012, and 2014 and 2016 it was higher than the continent average. According to the index, business freedom in Ethiopia was considered "repressed" as of 2020.

Despite the significance of economic freedom in tourism dynamics, especially from a spatial standpoint, its nuanced influence remains unexplored mainly in current research. To fill this gap, our study introduces a novel spatial panel data analysis to investigate how various components of the economic freedom index affect tourist arrivals in 41 European countries from 2005 to 2018. By employing this innovative approach, we uncover the complex interdependencies between economic freedom and tourism and highlight the significance of regional economic characteristics on the tourism sector’s health. Our findings reveal that a one percent increase in GDP per capita of neighboring nations corresponds to a 0.4 percent increase in tourist arrivals to the home country. In comparison, a similar rise in neighboring countries’ prices leads to a 0.4 percent decrease in inbound tourists. Most economic freedom variables, including the Business Freedom Index, Investment Freedom Index, Labor Freedom Index, Trade Freedom Index, and Government Integrity Index, demonstrate statistically significant positive effects. However, a one percent increase in the Monetary Freedom Index of neighboring countries results in a 0.747 percent reduction in homebound tourists. Notably, enhancements in the country’s and neighboring countries’ Investment Freedom Index and Government Integrity Index contribute to increased arrivals. This research contributes to the broader understanding of economic policies’ impact on tourism, offering valuable insights for policymakers aiming to leverage economic freedom for tourism development. The application of a spatial panel data approach marks a significant methodological advancement in tourism studies, opening new avenues for analyzing economic influences on tourism at a regional level.

Malaysia: Business freedom index (0-100): The latest value from 2024 is 71 points, an increase from 70 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for Malaysia from 1995 to 2024 is 78 points. The minimum value, 67 points, was reached in 2022 while the maximum of 94 points was recorded in 2015.

A spatial Durbin model compared to a spatial error and lag model.