4 Arab countries top the global misery index

4 Arab countries topped the list of the Global Misery Index for the year 2022, which tracks rates of unemployment, inflation and bank lending.

The index is issued by Professor Steve Hanke, Professor of Applied Economics at Johns Hopkins University, and ranks about 160 countries annually in the list of unhappiness. Syria came in third place, while Kuwait ranked second as the happiest country in the world.

The most miserable country for 3 consecutive years

The unhappiness index ranks first in Zimbabwe, and it is among the 5 most depressing countries for 3 consecutive years. The African country is home to nearly 16 million people, and the index report described it as mired in corruption and violence, in addition to the economic crisis that has turned tens of thousands into poverty. Extreme, since it was ruled by the late President, Robert Mugabe.

The most miserable country for 3 consecutive years

The unhappiness index ranks first in Zimbabwe, and it is among the 5 most depressing countries for 3 consecutive years. The African country is home to nearly 16 million people, and the index report described it as mired in corruption and violence, in addition to the economic crisis that has turned tens of thousands into poverty. Extreme, since it was ruled by the late President, Robert Mugabe.

Venezuela comes in second on the index. The South American country has twice suffered from hyperinflation under President Nicolás Maduro, who has now been in office for 10 years. State-owned oil PDVSA with 76%.

Venezuela has the largest oil resources in the world and relies on the industry for almost all of its revenues, but it has faced US sanctions that limit its access to foreign currencies, and as a result has witnessed high rates of poverty. “It is no wonder that more than 7 million Venezuelans have fled their homeland since 2015. They are miserable.”

4 Arab countries at the forefront of the misery index

Syria came in third place, followed by Lebanon in fourth place, and immediately after Sudan, while Yemen ranked seventh, after Argentina. Of Syria, Hankey said, "we should expect a country mired in civil war for more than 12 years to lack happiness."

Ukraine, which has been living at war since 2022, ranked eighth among the most miserable countries, due to a 3-fold increase in the unemployment rate, and in the 10th place, Turkey came with its high inflation rate.

Misery index classification criteria

The Misery Ranking is based on an algorithm that gives each country a score based on the country's unemployment rates, inflation, interest rates, and GDP growth, and does not take into account any other metrics, such as population or health surveys.

According to the New York Post website, scores are calculated by calculating the sum of unemployment (multiplied by 2), inflation, and bank lending rates minus the annual percentage change in real GDP per capita.

Switzerland tops the happiest countries

At the other end of the index, the least miserable countries, Switzerland remained at the bottom of the list, the happiest countries, and it is one of the richest countries in the world and among the best for life expectancy and average salaries, according to the most recent United Nations Human Development Index.

The State of Kuwait came in second place, as the second happiest country in the world for the year 2022, followed by Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo and Malta.

Britain's decline and America's progress

Britain fell from 153rd to 129th in the most miserable countries scale, and Prof Hankey says inflation, which topped 10% in March, was a major contributing factor.

In contrast, the United States rose from 102nd to 134th on the scale of the most miserable countries, with the lowest unemployment level in decades.