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Sunday, August 3, 2014

The World's Most Miserable Countries

There are several factors to consider for a country to be tagged as miserable. The recent study from Social Economists Intelligence Unit from John Hopkins University's  Professor Steve H. Hanke's calculations shows how 90 countries all over the world ranked when it comes to being miserable.

The research used the misery index tool where the misery score is the sum of Inflation Rate, Lending Rate, Unemployment Rate minus the percent change in the real GDP per capital.

Here are the Top 10 Most Miserable Countries In The World

1. Venezuela

Misery Index: 79.4
Major Contributing Factor: Inflation
"Venezuela is in much worse shape than suggested by the official data" - Prof. Hanke

2. Iran

Misery Index: 61.6
Major Contributing Factor: Inflation
According to Hanke, Ahmadinejad's presidency showed that the country's economy is getting worse.

3. Serbia

Misery Index: 44.8
Major Contributing Factor: Unemployment
The huge rate of unemployed Serbians turns out to be a huge hindrance for Serbia to progress.

4. Argentina

Misery Index: 43.1
Major Contributing Factor: Inflation
The falling economy and high inflation rate contributed a lot for the country to be included on the list.

5. Jamaica

Misery Index: 42.3
Major Contributing Factor: Interest Rate
Corruption and High Crime Rate in Jamaica are the main factors for people to lose interest.

Read more:Boy Texts His Mother As He Dies From A Tornado Hit

6. Egypt

Misery Index: 38.1
Major Contributing Factor: Unemployment
Tourism rates dropping due to war seems to be the problem for the country to be included in the list.

7. Spain

Misery Index: 37.6
Major Contributing Factor: Unemployment
Value Added Tax or VAT and increased food prices contributed a lot for the country to be one of the most miserable countries in the world.

8. South Africa

Misery Index: 37.4
Major Contributing Factor: Unemployment
It is also the top 8 least happy country in the world.

9. Brazil

Misery Index: 37.3
Major Contributing Factor: Interest Rate
Increasing poverty and rampant crimes being committed in Brazil put the country on the 9th place.

10. Greece

Misery Index: 36.4
Major Contributing Factor: Unemployment
Global Financial Crisis that led to huge increase of suicidal rates in the country are the reasons for Greece to land on the list.

Here is the COMPLETE LIST of World's Most Miserable Countries

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