Economic Freedom 2015 Index
Cyprus’s average economic freedom score is 67.9, making its economy the 40th out of 186 freest economies included in the Heritage Foundation 2015 Index, and 20th out of 43 countries in the Europe region.
Its overall score is up by 0.3 point from last year due to improvements in trade freedom, investment freedom, and monetary freedom that outweigh declines in labor freedom and freedom from corruption.
The Index of Economic Freedom is a series of 10 economic measurements created by the Heritage Foundation and Wall Street Journal. The 2015 Index of Economic Freedom covers 186 countries around the world, ranking 178 of them with an economic freedom score based on 10 measures of economic freedom that evaluate the rule of law, the intrusiveness of (limited) government, regulatory efficiency and the openness of markets. The Index’s stated objective is to measure the degree of economic freedom in the world
Global Competitiveness Report
Cyprus was ranked number 58 out of 144 countries by the World Economic Forum "Global Competitiveness Report 2014 - 2015", maintaining its position from the 2013-2014 report.
The Global Competitiveness Report is a yearly report published by the World Economic Forum. The first report was released in 1979. The 2014-2015 report covers 144 major and emerging economies. The report "assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity.”
Human Development Index (HDI)
Cyprus is ranked 32nd out of 187 countries globally according to the 2014 Human Development Report, with a Human Development Index (HDI) value of 0.845, maintaing the same place as in 2013.
The Human Development Index (HDI) focuses on three measurable dimensions of human development: living a long and healthy life, being educated and having a decent standard of living. Thus, it combines measures of life expectancy, school enrolment, literacy and income to allow a broader view of a country development than income alone.