Japan, the report pointed out, has the lowest score among the GRI countries for old-age dependency, a measure of the number of active workers compared to the number of retirees. Japan has the highest life expectancy, but also one of the lowest fertility rates among developed countries. The combination of longer life expectancy and low birth rate means the country has a relatively small proportion of working-age individuals supporting those in retirement, the report pointed out.
Japan, which ranked No. 23 overall, however, has the highest score for the employment indicator among all countries. So while it has a small proportion of working-age adults relative to those of retirement age, a high percentage of the population are working and therefore able to support its retirees, the report noted.
The largest positive overall score of the top 25 went to Slovenia, Israel, the Slovak Republic and Ireland, all improving by more than 0.5%. Ireland had marked improvements in the Health and Finances sub-index, the report noted.
The U.S. along with Belgium and Sweden had the largest drop in overall score. Belgium's score in the Finances sub-index slid significantly due to its five-year average for real interest rates dropping below zero.
In the Health sub-index category, Luxembourg finishes in the top 10 for the third year in a row. Japan moved up four spots to second, while Norway rounded out the top three with the same ranking as last year. Norway, it should be noted, is the only GRI country to have a top 10 finish for all indicators.
Iceland, Norway and the Czech Republic retained their first, second and third place rankings, respectively, in the Material Wellbeing sub-index from last year. Iceland has maintained its first-place rank (tied) in the unemployment indicator and seventh place rank in the income per capital indicator. It has dropped two places in income equality from first to third and its Material Wellbeing score has declined modestly.
As for the Finance sub-index, Singapore marginally beat New Zealand for the top spot both with rounded scores of 79% the past three years. Switzerland and Chile swapped places, with Switzerland third and Chile fifth. Chile dropped most significantly in interest rates from 10th to 18th.
In term of Quality of Life, Denmark and Finland held the top two spots, respectively. Denmark has the highest sub-index score among all GRI countries at 93%. It finishes second in personal wellbeing, third in the air quality indicator and sixth in environmental factors. Finland is first in personal wellbeing and fourth in air quality.
The United Kingdom moved into the top 10 in this sub-index to ninth, compared to 12th last year and 14th two years ago. It ranks second in the biodiversity and habitat and 14th in personal well-being. Canada moved out of the top 10, from ninth last year to 13th this year.