- Thailand ranks No. 1 in the world with the least suffering in the world in 2018, according to Bloomberg, the world's leading news agency.
- Singapore and Japan still ranked 2nd and 3rd respectively, while Iceland dropped to top 5, while China fell from the top 10 last year, down to 17.
- The countries with the most adversity in the world are Venezuela, South Africa, Argentina, Egypt, Greece and Turkey.
Thailand ranks No. 1 in countries with the least suffering and the brightest economic outlook in 2018 due to Bloomberg's latest misery index.
The Bloomberg's Misery Index is calculated from inflation numbers and unemployment rates in 66 countries, while the forecast figures for this year come from the Economist Opinion Survey during September last year until January.
Thailand has a difficulty score of 1.9, the lowest is the number 1 in 2017, while the Bloomberg index forecast for 2018 shows that Thailand still ranks No. 1 with a score of 2.5.
Data from the Bank of Thailand states that Thailand has a low unemployment rate of only 1.3% in 2017
While the January inflation rate was at 0.68% year-on-year. After increasing 0.78% in December last year
As for the country that followed to be ranked second, Singapore has a misery index of 2.8 in the previous year and is expected to reach 3.2 this year, while Japan, which is ranked 3rd in the world in 2017, still ranks 3rd. In the year 2018 with the forecast numbers of the misery index at level 3.6
Switzerland climbed from the 4th in 2017, ranking 3rd in Japan this year. The misery index dropped slightly from 3.7 to 3.6 this year, while Taiwan rose from 6th in the previous year to the Top 5 in 2018.
While Iceland Which was ranked 5th in 2017, dropped to the top 5 with the expected misery index of 5.3 this year
For other countries Interesting China, the world's second-largest economy power, has fallen to the top 10 this year to rank 17, with the index rising from 5.5 in 2017 to 6.3 this year. Consumer prices in China will reach 2.3% this year from 1.6% in 2017.
Hong Kong, which ranks 8th in last year The index has increased from 4.6 to 5.7, dropping to 10th with Denmark this year.
While the United States has a better index from 6.5 in 2017 to 6.2 this year, although inflation is likely to rise and tightness in the labor market continues
For countries with the most economic misery in the world, Venezuela, which occupies this position for four consecutive years, is expected to reach the level of 1872.0 in 2018 due to severe inflation.
Argentina has the index dropped from 36.9 in 2017 to 27.1 this year, but the rank does not improve, still holding the 3rd most miserable country house in the world. While South Africa rose to No. 2 in 2018 with the expected 33.1 index
Bloomberg views that rising consumer prices will affect the global economy this year rather than unemployment. But in the overall picture The global economy is still promising for growth this year. While economists expect global gross domestic product (GDP) to expand by 3.7% compared to last year Which is the fastest growth rate since 2011
However , Bloomberg's misery index has been criticized for being vulnerable and does not reflect the truth as Bloomberg only brought inflation and unemployment figures to calculate the index for ranking. Which is an old concept and is not compatible with the current era with a lot of variables involved, in some cases, inflation and low unemployment numbers may create misconceptions about the economy Due to the low level of consumer prices for a long time, it may be a sign of a slowdown in demand. Or the very low unemployment rate may be a factor affecting the decision to change a new job
In addition, many countries also use different labor market measures. Therefore, it may cause some countries to have very low unemployment rates. But did not reflect the real labor market conditions
While Thai scholars commented that calculating the 'adversity index' should bring other information Come together in such a way as the cost of living Corruption image index And social indicators from crime etc.
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