Sweden has the world's most powerful passport, primarily due to its "strong performance in investment metrics", according to Global Citizen Solutions (GCS) just released 2024 Global Passport Index.
This ranking system goes beyond traditional passport rankings, it said in a statement on 20 November, offering a "comprehensive and multi-dimensional" assessment of a country's attractiveness for those seeking second citizenship or residency.
As global volatility intensifies, from geopolitical tensions to shifting policies in major nations, the need for safe havens has never been more urgent, the report highlighted.
Unlike traditional passport rankings that focus solely on visa-free access, the Global Passport Index adopts a holistic approach, considering the broader appeal of a country as a second home for those seeking relocation or a second citizenship.
The index ranks countries based on three dimensions: Enhanced Mobility, Quality of Life and Investment Opportunities.
The Enhanced Mobility Index is the first of the three dimensions of the Global Passport Index and the one carrying the most weight, responsible for 50% of the composite score.
The quality of life ranking assesses the availability and cost of day-to-day amenities such as infrastructure, cost of living, personal and political freedom, environmental quality and attitudes towards foreigners.
The Economy Index aims to provide a general assessment of an economy as an option for investment and other business decisions.
The result, it said, is a well-rounded ranking that reflects the needs of expats, digital nomads, retirees, and global investors.
2024’s Top 10 most powerful passports by global citizen solutions
1 – Sweden
2 - Germany
3 - Finland
4- Switzerland
5 – The Netherlands
6- United Kingdom
7- Ireland
8- Denmark
9- Luxembourg
10 – Norway
European nations dominate the top 10 rankings, highlighting the region’s appeal in terms of quality of life and economic opportunities. Germany, Finland, and the Netherlands remain key performers across all categories.
Switzerland rises to the 4th spot, despite a lower score in the Quality of Life category due to high living costs. Its high Investment category score underscores its status as a top destination for global investors.
The US and Canada fall out of the top 10, with declining scores in both Enhanced Mobility and Quality of Life.
Ireland and Luxembourg enter the top 10, driven by improvements in both Investment and Mobility.
Countries like Estonia, Japan, and Portugal saw significant upward movement due to enhanced investment prospects, reflecting global shifts in economic policies and mobility trends.
Singapore maintains its top position in both the Mobility and Investment categories reinforcing its strong overall scores across both metrics. However, in the Quality of Life category , it ranks lower compared to those of European nations.
Laura Madrid, the lead researcher of the Global Citizen Solutions Intelligence Unit, commented on the value of the ranking system: "The 2024 Global Passport Index is designed to meet the needs of a diverse and dynamic group of global citizens. By considering a wide range of indicators beyond just visa-free access destinations, our index offers a comprehensive look at what truly makes a country attractive for second citizenship or residency.
"This is especially important at a time when global volatility is at an all-time high, with major events like the upcoming US presidential elections and ongoing conflicts in the Middle East and other regions of the globe spurring citizens to seek plan B solutions. The data shows that global mobility is about more than travel freedom—it’s about safety, lifestyle, investment potential, tax and business considerations.
"The Global Passport Index stands out for its unique approach, offering a user-friendly platform that helps individuals weigh multiple factors when considering second citizenship or residency."
Global Citizen Solutions CEO, Patricia Casaburi, also emphasized the importance of the index for modern global citizens:
"As global mobility becomes more essential to personal and financial success, tools like the Global Passport Index are crucial for making informed decisions.
"Our index gives global citizens the information they need to choose the best countries for living, investing, and thriving in a rapidly evolving world. The index is also incredibly intuitive and easy to use. Users get a single score that enables them to make an informed decision about where they're going next. We’re proud to offer such a valuable resource that empowers individuals to take control of their future."
