Why Singapore, Thailand are among the world’s ‘happiest’ economies

Singapore and Thailand have been recognized as having some of the world's "least miserable" economies in the 2025 Hanke's Annual Misery Index (HAMI). This index, compiled by Johns Hopkins University economist Steve Hanke, assesses a country's economic well-being from the perspective of its average citizen. The study found that several Southeast Asian nations, including Singapore and Thailand, benefit from a combination of low inflation, stable employment, affordable borrowing costs, and income growth. These factors contribute to reduced economic strain for households in the region, positioning Southeast Asia as a "healthiest economic neighbourhood." The HAMI aims to reflect the practical economic experience of citizens by measuring inflation, unemployment, interest rates, and GDP growth.