Iceland is the best performing country in the OECD, according to a report commissioned by Scottish business leaders.The Federation of Small Businesses’ annual Index of Success compared 30 OECD countries on standards of living, employment rates, health and education. Iceland came first, beating last year‘s winner Switzerland into second place.
The report was compiled by John McLaren, an economics consultant and Honorary Research Fellow in the Department of Urban Studies at the University of Glasgow. It took data from 30 member countries of the Organisation for Economic Co-operation and Development, an international body which collects economic, social and environmental data from democratic and free market countries.
Iceland‘s boost into first place this year was helped by an employment rate of 84.4% which was significantly higher than any other OECD member.
Much of the report concentrates on the reasons why Scotland languishes at the bottom of the table of the 10 smallest OECD nations for the second year running. The main factor is the low life expectancy in Scotland, which is worse than among 24 ‘more developed’ nations of the OECD as well as all the UK regions.
For details of the report visit the Federation of Small Businesses‘ website.