The Legatum Prosperity Index, as a hybrid index, quantifies the fundamental pillars that underpin societal progress and prosperity. Its expressive nature makes it an effective tool for illustrating and comparing prosperity across different countries and regions. This is largely due to its coherent descriptive framework that amalgamates various socio-political and economic factors. The index is structured around three domains, encompassing 12 pillars and 66 elements.

The annual country rankings, based on these three domains, provide insights into each country’s strengths and weaknesses across various developmental areas. Moreover, observing the trends in changes to each pillar over time can assist experts and policymakers in forming a comprehensive understanding of a country’s developmental progress.

The significance of the Legatum Prosperity Index lies in its emphasis on the interconnectivity of different developmental aspects. It incorporates the economic dimension alongside social, political, and environmental dimensions. This holistic approach offers a macroscopic view of developmental situations while also presenting the rank and score of each country or region concerning these elements.