Uruguay: how strong is the country’s economic performance, its attractiveness for investors, visitors, or talent looking for a new home? What about its soft power and reputation as a democratic nation, according to international rankings and indices?
Let’s explore:
- Uruguay’s soft power and brand strength
- Its appeal to skilled labour, investors, and visitors
- The country’s global contribution to peace and well-being
- How well it fares in terms of happiness and sustainability
Uruguay’s Soft Power and Brand Strength
In the Global Soft Power Index 2023 by Brand Finance, Uruguay secures the 63rd spot, slightly trailing The Philippines (61st) and Slovakia (62nd). Uruguay experienced a jump of three positions from 2022, and its score increased by 6.1%.
In the U.S. News Best Countries 2023 ranking, Uruguay secured the 57th position, behind Romania (55th) and Estonia (56th). Notably, Uruguay does best in the open for business factor (32nd). Uruguay jumped eight positions from 2022, with its lowest scores in the factors of entrepreneurship and movers.
How Attractive for Talent?
The World Economic Forum Global Competitiveness Index 2019 placed Uruguay at the 54th position among 141 countries. However, it’s important to note that an updated version of this report hasn’t been released in the past five years, and rankings may have shifted since then.
Uruguay, classified as a high-income country within the Latin American and Caribbean regional group, currently holds the 43rd position in the Global Talent Competitiveness Index 2023. The country ranks highest in the Enable and Grow pillars (34th) and struggles most with the GK Skills pillar (76th).
Appeal to Investors, Visitors, Locals
The Bloom Consulting biannual Country Brand Ranking Trade Edition 2022-2023 assesses investment-related variables, emphasizing perceptions of a country’s trade-specific brand and evaluating branding performance. Regionally, Uruguay placed 11th, a jump of two positions from the previous ranking thanks to improvements in average Net FDI and digital performance. Globally, Uruguay secured the 66th position.
In addition, the Bloom Consulting Country Brand Ranking Tourism Edition 2022-2023 places Uruguay at the 79th global position. Regionally, it now holds the 19th position, experiencing a drop of two positions, falling behind Ecuador (17th) and Cuba (18th).
How “Good” Is Uruguay?
In the Caf World Giving Index 2023, Uruguay secured the 60th position, a drop of one position from last year’s ranking. It performs best in the subfactor of helping a stranger, where 70% of its adult population helped a stranger this past year.
In the Good Country Index, Uruguay currently holds the 45th position overall, with notable subfactors as follows: Science & Technology (131st), Culture (66th), International Peace & Security (9th), World Order (26th), Planet & Climate (25th), Prosperity & Equality (54th), and Health & Wellbeing (85th). It’s worth mentioning that in 2022, Uruguay was ranked 25th, and in 2021, 49th. Despite this drastic drop from last year’s ranking, the Culture factor has experienced a relatively high increase.
According to the Economist Intelligence Unit (EIU) Democracy Index 2023, Uruguay ranked in the blue zone (8-9 range) with a 8.91 out of 10. This is higher than Chile and the US, who scored 8.22 and 7.85.
The 2022 Corruption Perception Index ranks Uruguay 14th with a score of 74/100, tying with Canada, Estonia, and Iceland. Its score has increased by one since 2021.
The Sustainable Development Report 2023 ranks Uruguay in 32nd position. It highlights that it experiences some significant and major challenges that are still to be overcome. However, the No Poverty goal has reached SDG achievement and continues to be on track, while the Affordable and Clean Energy goal has reached SDG status and is experiencing moderate increase. Meanwhile, the Clean Water and Sanitation, Sustainable Cities and Communities, and Partnerships for the Goals factors are all on track.
Peace and Happiness
The Global Peace Index 2023 ranks Uruguay 50th, dropping five positions from last year’s index. Uruguay sits below Oman (48th), and Timor-Leste (49th). It falls under the high sector of the ‘State of Peace’ spectrum as defined by the Institute for Economics & Peace. Uruguay is the regional leader, placing 1st out of 11 among the fellow South American countries.
The Institute for Economics & Peace similarly ranks Uruguay within the low impact (yellow) zone in terms of ‘Impact of Terrorism’ in the 2022 Global Terrorism Index. It ranks 79th, sitting above Rwanda (78th) and tying with Bahrain and South Africa.
Meanwhile, the World Happiness Report 2023, which displays the Ranking of Happiness based on a three-year average 2020–2022, ranks Uruguay 28th.
Uruguay’s Environmental Performance
The 2022 edition of the Environmental Performance Index (EPI) ranks Uruguay 113th, tying with the Maldives and Micronesia. The EPI analyzes the performance of 180 countries, scoring and ranking these countries on their environmental performance using the most recent year of data available, as well as providing calculable changes in scores over the previous decade. Uruguay has experienced a change in score of positive 3.30.
Last updated in November 2023. Explore more country profiles here.
Want to know more about Uruguay and what it does to attract investors, talent, visitors? Find in-depth interviews with some of the country’s leading filmmakers, investors, and entrepreneurs in our Uruguay Country Report.
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Disclaimer: The information in this article is intended to provide a general overview of Uruguay’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided “as is” without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
