Top 10 Most Developed Countries In The World
Top 10 Most Developed Countries In The World A country with a highly developed economy and technological and infrastructural advancement is considered as a developed country.Development and economic growth are topics that jumped into the limelight of world affairs some seventy years ago when Roy Harrod, an eminent economist, introduced the theory of economic growth and gave the world especially the newly independent colonial countries a recipe for leading their countries towards economic prosperity. Top 10 Most Developed Countries In The World While it remains a subject of debate that which criteria is most appropriate to rank countries for their level of development but the commonly analysed factors are gross domestic product (GDP), per capita income, level of industrialization, life expectancy, standard of living and literacy level.
10. Denmark – (HDI Score: 0.900)
The Kingdom of Denmark enjoys a modern and mixed economy which is mainly service based as the country lacks in mineral resources other than oil and gas, and has to rely upon human resources. The life expectancy in Denmark is 80 years and the standard of living in the country is quite high. Denmark has a GDP of $210.1 billion and $37,657 per capita while its HDI rating of 0.9 makes it the 10th most developed countries in world.
9. Singapore – (HDI Score: 0.901)
This sovereign city-state and island country is one of world’s major commercial hubs. It is one of the Four Asian Tigers. It places highly in international rankings with regard to healthcare and education.A hi-tech and one of the most prosperous countries in the world, Singapore also enjoys one of the world’s highest standards of living. With a highly trade oriented market economy, Singapore has a GDP of $326.5 billion and $60,410 per capita and 4th longest life expectancy which is 84.38 years.
8. Canada – (HDI Score: 0.902)
The 8th most developed country in world is Canada which is one of the world’s wealthiest nations and has an economy dominated by the service industry.This developed country ranks among the highest in international measurements of government transparency, education, civil liberties, quality of life and economic freedom. In Canada, the average household net-adjusted disposable income per capital is $23,938. Alongside, Canada also has vast oil reserves and it majorly exports energy, food and minerals. Canada has GDP of $1.5 trillion and $42,734 per capital while the life expectancy is 81.67 years.
7. New Zealand – (HDI Score: 0.910)
New Zealand is a wealthy nation comprising of two main islands and many smaller islands. New Zealand has a modern, prosperous and developed market economy. The standard of living of the people of New Zealand is generally regarded as being one of the highest in the world and is within the range achieved by nations like the US, the UK and Canada.The life expectancy in New Zealand is 80.93 and the country’s GDP is $132.0 billion and $29,730 per capita. With HDI of 0.910 it is world’s 7th most developed countries.
6. Germany – (HDI Score: 0.911)
The 6th most developed country, Germany is also the most industrialized, most populous and the largest national economy in Europe. Germany is a global leader in many industrial and technological sectors. It is a developed nation with high standard of living.The concept of social market economy forms the basis of Germany economy. The country is also one of the largest global exporters in world and is rich in minerals like nickel, iron, copper, natural gas etc. the GDP for Germany is $3.2 trillion and $39,028 per capital while the life expectancy is 80.44 years.
5. United States – (HDI Score: 0.914)
World’s largest single national economy is United States which makes it the world’s foremost economic power. The country’s GDP of 15.7 trillion ($49.922 per capital) is almost a quarter of the total world’s GDP. The citizens of the US enjoy a high access to consumer goods. They enjoy more cars and radios per capita than any other nation. In the US, the average household net-adjusted disposable income per capital is $39,531.
4. Netherlands – (HDI Score: 0.915)
The 4th most developed country Netherlands has a prosperous and open economy which largely depends upon foreign trade. In Netherlands, the average household net-adjusted disposable income per capita is $29,697 per year. Around 75 percent of people aged between 15 and 64 have a paid job. Nearly 72 percent of adults aged 22 to 64 have earned the equivalent of a high-school degree.The life expectancy in Netherlands is 81.12 and the country has very high standards of living.
3. Switzerland – (HDI Score: 0.917)
In Switzerland, the average household net-adjusted disposable income per capital is $30,745.One of the world’s wealthiest nations, Switzerland has an extremely stable economy which follows the policy of long term monetary security making it a preferred choice for investors all over the globe. Life expectancy at birth is almost 83 years. Around 95 percent of people are happy with the quality of water supply.
2. Australia – (HDI Score: 0.933)
One of the largest capitalist economies in the world is Australia where the major contribution to its GDP of $970.8 billion ($42,640 per capital) is made by the service sector while mining and agriculture also make significant contributions.In the average household net-adjusted disposable income per capital is $31,197. In general, the Australians are satisfied with their lives. Around 83 percent of people say that they have more positive experiences in an average day than negative experiences.
1. Norway – (HDI Score: 0.944)
The World’s most developed country is Norway with an HDI of 0.944. The economy of Norway is mixed and ever growing since the start of industrial era. In Norway, the average household net-adjusted disposable income per capita is $32,093. The prominent contributor in its economy is the abundance of natural resources, mainly oil and gas, and the exports made by the nation.The HDI of 0.944, which has gone up by 0.001 from 2013, gives it the number 1 position on this list of Top 15 most developed countries in the world.