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.

The average for 2024 based on 174 countries was 59 index points. The highest value was in Singapore: 84 index points and the lowest value was in North Korea: 3 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

In 2021, Venezuela was the country that had the lowest economic freedom score, scoring **** and ranking 165/165 out of all countries analyzed. Zimbabwe and Syria followed, scoring **** and *** respectively. Out of the lowest scoring ** countries, Guyana had the highest score at ****, ranking at *** out of 165 countries analyzed.

Singapore was the country with the highest degree of economic freedom in 2021, scoring **** out of 10. Hong Kong followed closely behind at ****, and Switzerland came next with a score of ****. Most of the highest scoring countries are located in East Asia, Europe, North America, and Oceania.

The average for 2024 based on 46 countries was 62 points. The highest value was in Mauritius: 87 points and the lowest value was in Sudan: 30 points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

In 2022, Hong Kong ranked highest in international trade freedom with a score of 8.58 out of 10. Singapore followed closely with 8.55, while Switzerland, scoring 8.39, was the top-ranked country in Europe.

The average for 2024 based on 20 countries was 60 index points. The highest value was in Canada: 72 index points and the lowest value was in Cuba: 26 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

This statistic describes the overall score of the Gulf Cooperation Council on the Economic Freedom Index ranking in 2018, by country. According to the 2018 ranking, United Arab Emirates scored overall on the Economic Freedom index 77.6 compared to the Middle east and North African average is 61.5. the UAE is considered in this regard mostly free.

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.

In 2024, Iceland was the worldwide leader in terms of internet freedom. The country ranked first with 94 index points in the Freedom House Index, where each country received a numerical score from 100 (the freest) to 0 (the least free). Estonia ranked second with a 92 index points, followed by Canada, with a score of 86 index points. Internet restrictions worldwide The decline of internet freedom in 2022 is mainly linked to political conflicts in different parts of the world. With the Russian invasion of Ukraine, the Russian government intensified its attempts to control the online content in the country. The government placed restrictions on three different U.S.-based social media platforms at the same time, Twitter, Facebook, and Instagram. These restrictions made it to the top of the longest-lasting limitations on the web in 2022. Social protests rose in Iran following the death of Mahsa Amini in September 2022. The Iranian government decided to shut down the internet and various social media platforms in an attempt to minimize the communication between the protesters. In 2022, 11 new internet restrictions were recorded in Iran. However, residents in the Indian region of Jammu and Kashmir saw the highest number of new internet restrictions, which amounted to more than double than the ones in Iran. The impact of internet shutdowns In 2022, the economic impact of internet restrictions worldwide reached an estimated 23.79 billion U.S. dollars. Meanwhile, the highest financial losses due to internet shutdowns were caused by limitations in Russia, and more than seven thousand hours of restricted various online services had an economic impact of 21.59 billion U.S. dollars. The restrictions impacted around 113 million people in the country. Myanmar placed the most extended restriction on internet services, lasting 17,520 hours in total. Similar restrictions in India affected over 120 million people. 

The average for 2024 based on 27 countries was 70 index points. The highest value was in Ireland: 83 index points and the lowest value was in Greece: 55 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

Introduction

The index published in Economic Freedom of the World by the Fraser Institute measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to enter markets and compete, and security of the person and privately owned property. Forty-two data points are used to construct a summary index and to measure the degree of economic freedom in five broad areas.

Areas

• Area 1: Size of Government - As government spending, taxation, and the size of government-controlled enterprises increase, government decision-making is substituted for individual choice and economic freedom is reduced.
• Area 2: Legal System and Property Rights - Protection of persons and their rightfully acquired property is a central element of both economic freedom and civil society. Indeed, it is the most important function of government.
• Area 3: Sound Money - Inflation erodes the value of rightfully earned wages and savings. Sound money is thus essential to protect property rights. When inflation is not only high but also volatile, it becomes difficult for individuals to plan for the future and thus use economic freedom effectively.
• Area 4: Freedom to Trade Internationally - Freedom to exchange—in its broadest sense, buying, selling, making contracts, and so on—is essential to economic freedom, which is reduced when freedom to exchange does not include businesses and individuals in other nations.
• Area 5: Regulation - Governments not only use a number of tools to limit the right to exchange internationally, they may also develop onerous regulations that limit the right to exchange, gain credit, hire or work for whom you wish, or freely operate your business.

The average for 2024 based on 11 countries was 60 index points. The highest value was in Singapore: 84 index points and the lowest value was in Burma (Myanmar): 42 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

The purpose of the World Press Freedom Index is to compare the level of freedom enjoyed by journalists and media in 180 countries and territories. The definition of press freedom used by RSF and its panel of experts to compile the Index is the following: "Press freedom is defined as the ability of journalists as individuals and collectives to select, produce, and disseminate news in the public interest independent of political, economic, legal, and social interference and in the absence of threats to their physical and mental safety." On the basis of this definition, the press freedom questionnaire and map are broken down into five distinct categories or indicators (political context, legal framework, economic context, sociocultural context and safety). The Index is a snapshot of the situation during the calendar year (January-December) prior to its publication. Nonetheless, it is meant to be seen as an accurate reflection of the situation at the time of publication. Therefore, when the press freedom situation changes dramatically in a country between the end of the year assessed and publication, the data is updated to take account of the most recent events possible. This may be related to a new war, a coup d'état, a major attack on journalists, or the sudden introduction of an extreme repressive policy. The Index is based on a score ranging from 0 to 100 that is assigned to each country or territory, with 100 being the best possible score (the highest possible level of press freedom) and 0 the worst. This score is calculated on the basis of two components: - a quantitative tally of abuses against media and journalists in connection with their work; - a qualitative analysis of the situation in each country or territory based on the responses of press freedom specialists (including journalists, researchers, academics and human rights defenders) to an RSF questionnaire available in 24 languages. The scoring classifications are assigned in the source as follows: - 85 - 100 points: good - 70 - 85 points: satisfactory - 55 - 70 points: problematic - 40 - 55 points: difficult - 0 - 40 points: very serious Please refer to: https://rsf.org/en/methodology-used-compiling-world-press-freedom-index-2024?year=2024&data_type=general

South Africa's overall score on the Economic Freedom Index was 55.7 as of 2023, a drop of 0.5 points from the prior year. South Africa's rank in the Sub-Saharan Africa region 17th out of 47 countries. Its overall score is below the world average.

Abstract This work examines the joint effect of democracy and economic freedom on corruption. The study used a database of 160 countries from 2010 - 2016, containing information for a set of economic, cultural, historical, and institutional variables. Several researches show that the joint effect of economic freedom levels and democracy are essential to fight corruption. Therefore, the most effective public policies for countries under study are those focused on the fundamental right of human beings to control satisfying outcomes of their jobs, which holistically encompasses the freedom and rights of production, distribution, or consumption of goods and services.

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 average for 2024 based on 20 countries was 56 index points. The highest value was in Chile: 71 index points and the lowest value was in Cuba: 26 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

The implementation of pro-market policies and institutions is often suggested for enhancing a country’s development. However, implementing pro-market policies and institutions has a mixed track record. Some have ascribed the bad results to the neglect of people’s predispositions, often described as culture. In this study, we argue that successful implementation of pro-market policies and institutions requires that large parts of the population know how to use the resulting freedom in a way that can bring long term benefits. A panel analysis on a sample of 67 countries from 1970 to 2019 confirms this theoretical argument. We find that Long Term Orientation increases the effect of economic freedom on income per capita, whereas Uncertainty Avoidance weakens the positive relationship between economic freedom and income per capita. The policy implication is that the introduction of free market policies and institutions will particularly foster economic development in long-term oriented societies and in societies with low Uncertainty Avoidance.

The World Press Freedom Index, compiled by Reporters Without Borders (RSF), assesses press freedom in 180 countries and territories. It defines press freedom as journalists’ ability to report independently without political, economic, legal, or social interference and threats to their safety. The Index evaluates five key indicators: political context, legal framework, economic conditions, sociocultural environment, and journalist safety. It reflects the state of press freedom during the previous calendar year but may be updated to account for significant recent events, such as conflicts, coups, or major attacks on journalists.