Recently, it was announced 2024 ranking of The Heritage Foundation’s economic freedom indexwhich analyzes the level of economic freedom from every country in the world.
On this front, Latin American countries, including Colombia, They had very different results, however, the vast majority of nations in this region were ranked among the worst in the world.
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It is worth mentioning that economic freedom is defined in the ranking as “individual autonomy: the freedom of choice that people enjoy when acquiring and using goods and economic resources“.
Economic freedom iStock
It is worth explaining that the preparation of the list had the following aspects as criteria:
– Property rights.
– Government integrity.
– Judicial effectiveness.
– Tax burden.
– Government expenditure.
– Fiscal health.
– Business freedom.
– Labor freedom.
– Monetary freedom.
– Commercial freedom.
– Freedom of investment.
– Financial Freedom.
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How did Colombia fare?
Worldwide, The country was in 84th position, with a score of 59.2 out of 100listed as a nation that is mostly not free.
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Colombia iStock
Now, If this exercise is done only in the countries that correspond to Latin America and the Caribbean, Colombia is in tenth position. The complete list at the regional level is made up of the following countries:
1. Chile
2. Uruguay
3. Costa Rica
4. Peru
5. Panama
6. Dominican Republic
7. Guatemala
8. Mexico
9. Paraguay
10. Colombia
11. Honduras
12. Ecuador
13. El Salvador
14. Nicaragua
15. Brazil
16. Argentina
17. Bolivia
18. Venezuela
19. Cuba
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Economic freedom iStock
1. Singapore
2. Switzerland
3. Ireland
4. Taiwan
5. Luxembourg
6. Denmark
7. Estonia
8. New Zealand
9. Norway
10. Sweden
On the other hand, the worst positioned countries in this ranking were:
167. Burma
168. Central African Republic
169. Iran
170. Eritrea
171. Burundi
172. Zimbabwe
173. Sudan
174. Venezuela
175. Cuba
176. North Korea
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