What are the basis when you think about how developed a country is?
Through the HDI or the Human Development Index, a list has been made on the 10 most developed countries in the world. HDI is a statistic used in order to determine a country’s development so that it will be rated from low to very high.
Countries are ranked based on these attributes: education, life expectancy, child welfare, standard of living, economic welfare, health care, and population happiness. HDI is the combination of these variables so that a reliable result of assessment will be made for the most developed countries.
10. Denmark – HDI: 0.900
The standard of living in Denmark is high. The people of Denmark are enjoying a mixed and modern economy as they heavily rely on their gas and oil. They have abundant gas and oil but lack other resources so they have to rely on human capital. Still, people in Denmark are enjoying superior standard of living. This country has a GDP of over $210 billion and a HDI of 0.9.
9. Singapore – HDI: 0.901
Among the countries included in the list, Singapore is the only Asian country who made it to the list. Being the 12th in 2013, Singapore has climbed 3 spots and is now 9th in the list. Singapore is also considered one of the most high tech countries across the globe. The country is also the 3rd in the list of the richest countries. Singapore has over $326 billion of GDP. This nation is now an economic powerhouse with a very high standard of living.
8. Canada – HDI: 0.902
Canada is rich with oil reserves and is an exporter of food, energy, and minerals. Canada is one of the richest country as well. Canada has an economy that has been dominated by the service industry. Canada has over $1.5 trillion GDP and every household earns $29,365 per year.
7. New Zealand – HDI: 0.910
New Zealand is not just one of the most developed but is also one of the happiest and free country. This country is also one of the richest with its two main islands and many other smaller islands. The country’s economy is relying on its productive agriculture. Other sectors that also contributed in their economy are the sectors of tourism, extraction, manufacturing, and construction. New Zealand has $132.0 billion GDP and the average income per household is up to $23,815 every year.
6. Germany – HDI: 0.911
Not just one of the most developed but Germany also made it to the most industrialized list of countries. Germany is respected worldwide because of its unparalleled efficiency and skilled work force. In Europe, Germany has the largest national economy with its social market economy concept. Its economy is being fueled by its industry and manufacturing sectors. Germany is rich with minerals such as iron, nickel, natural gas, copper, and many more. Aside from that, this country is also included into the list of being one of the largest exporters worldwide. Germany has $3.2 trillion GDP.
5. United States – HDI: 0.914
With its highly developed infrastructure, advanced technology, productive citizens, and bounty of natural resources, this made the United States to the fifth place in this list. United States has the most immense single national economy all over the world making it the world’s leading economic power. This country has 15.7 trillion GDP.
4. Netherlands – HDI: 0.914
The people in Netherlands enjoy a high standard of living. Aside from being included in this list, Netherlands is also one of the richest, happiest, safest, and most inventive country. Their productive economy depends on foreign trade. This country has a very low poverty rate while having a high literacy rate. Netherlands has $707.0 billion GDP.
3. Switzerland – HDI: 0.917
Switzerland is also one of the richest country in the world. Due to its numerous innovations and labbr-market productivity, Switzerland gained a competitive economy. This country has an extreme stable economy with its productive industries and trade. Switzerland also has a long-term monetary security policy which makes foreign investors to choose this country when it comes to investing. Switzerland has $363.4 billion GDP.
2. Australia – HDI: 0.933
Australia has been dominant when it comes to its wealth, its quality of life, and its standard of living. Its service sector has largely contributed in its economy as well with its agriculture and mining sectors. Aside from these things, the country has a good human development and people in Australia exercise civil and healthcare rights. Australia has $970.8 billion GDP.
1. Norway – HDI: 0.944
Norway is on the top of the list making it the most developed country across the globe. No wonder why Norway is the number one. People in Norway enjoy advanced educational system, universal healthcare, and notable social security system. Aside from that, Norway is abundant in resources like oil reserves, mineral deposits, lumber, and sea foods which are contributors to its productive economy. Norway has also a very low poverty rate compared to other countries and also has a strong integrated welfare system for the citizens to enjoy. Norway has over $277 billion GDP.
What other countries are well developed aside from this list?