The 2024 International Property Rights IndexINTERNATIONAL PROPERTY RIGHTS INDEX BY THE PROPERTY RIGHTS ALLIANCE
The 2024 International Property Rights Index
The International Property Rights Index (IPRI) is a premier global index ranking the strength of property rights – both physical and intellectual – alongside the legal and political environments that support them. It assesses property rights in 125 countries, covering 93.4% of the global population and accounting for 97.5% of the world’s GDP. The Index is produced by the Property Rights Alliance, an international coalition of 131 think tanks spread over 73 countries, among which is Competere.
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Competere, in partnership with the Property Rights Alliance, an international research and advocacy organization dedicated to protecting and promoting innovation, is proud to release the 2024 edition of the International Property Rights Index (IPRI) on October 22nd.
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Key findings
The global average IPRI score in 2024 stands at 5.18, marking a slight 0.53% decrease from last year (Max: 8.1; Min:1.9). This trend suggests increasing challenges in maintaining property rights, which can hinder economic progress. High-income nations consistently demonstrate the strongest property rights protections. In contrast, lower-middle-income countries often impose restrictions on foreign ownership of intellectual property and investments, underlining the critical role property rights play in fostering economic growth.
- Intellectual Property Rights (IPR) Protections: There has been a modest 0.19% improvement in IPR protections, reflecting growing attention to safeguarding intangible assets – vital for stimulating and attracting investment.
- Legal and Political Environment (LP): The LP component remains the weakest area, with a score of 4.98 and a 1.5% decline. This ongoing instability in legal and political environments poses a threat to investment.
- Physical Property Rights (PPR): The PPR score dropped to 5.21, a decline of 0.31%, reflecting ongoing challenges in protecting physical property, which is essential for securing assets and driving business growth.
Overall, 83% of the global population lives in 80 countries with IPRI scores ranging from 2.9 to 5.7. This indicates moderate protections, with considerable room for improvement.
The top five countries that achieved the highest property rights protections are Finland (8.1), Singapore (7.94), Denmark (7.774), the Netherlands (7.773), and New Zealand (7.66).
The bottom five countries are Venezuela (1.9), Yemen (2.4), Haiti (2.6), the Democratic Republic of the Congo (3.0), and Chad (3.0).
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<< Check out the key findings of IPRI 2023 here >>
The authors
The Property Rights Alliance is an association that promotes property rights across the world. International Property Rights Index is a yearly comparative study that aims to quantify the strength of property rights – both physical and intellectual – and to rank countries accordingly. Competere is a member of the PRA and is proud to exclusively present this year’s findings in Italy.
