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Why Singapore, Thailand are among the world’s ‘happiest’ economies
Southeast Asian countries outdid larger economies in the 178-nation Hanke’s Annual Misery Index for 2025
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Sam Beltran
Published: 8:58pm, 1 May 2026
Singapore and Thailand ranked among the world’s “least miserable” economies in an annual index compiled by a Johns Hopkins University economist, who said Southeast Asia was one of the “healthiest economic neighbourhoods” in the world.
The 2025 Hanke’s Annual Misery Index (HAMI), compiled by applied economics professor Steve Hanke, measures the “economic temperature” of a country and seeks to approximate how its average citizen experiences the economy.
This year’s HAMI found that several Southeast Asian economies had a combination of low inflation, steady employment, manageable borrowing costs and income growth – leaving households feeling less economic strain.