What is difference between developed and developing countries? Which are the most developed countries in the world?
Development in a country is determined by a number of factors. For instance, the characteristics of developed countries comprise of rate of literacy, economic growth, potential strength of defending against terror attacks, scientific and technological progression and many more.
Apart from that, the Gross National Income per capita, advancement in health sectors, gender ratio, etc., are also considered when deciding the top 10 developed countries in the world.
People in search of job opportunities are mostly on the lookout for best countries to live in. The list is updated every year against the growth and progress report submitted about the countries. Hence, for the present year 2019, here is a list of top 10 developed countries in the world for you to take a look.
The list of developed countries is updated every year based on the rate of progression in a variety of sectors. The topmost developed country is decided on the basis of its Gross Domestic Product or GDP, human development, academic and professional progression, safety of the residents and many more aspects.
Top 10 Most Developed Countries in the World
Besides being baffled by the extravagant beauty of Norway, the country has mesmerized the world by bagging the title of the best country in the world. Based on the latest study in Human Development Index, Norway is ranked as the most developed country.
It has bagged a flattering Human Development Index of 0.953 which is downright impressive. From taking care of the education, literacy, health care benefits and equality, Norway has set an example towards focusing on the overall development of the citizens and is thus counted amongst the most developed countries in the world.
As per the 2014 report, Norway had generated $61,471 GDP per capita which also marks its economic status and thus its global position among the developed countries in the world.
Switzerland flaunts a fascinating heritage in terms of progression, sophistication and beauty. The name itself garners images of stupendous mountain ranges standing tall among the myriad landscapes that make up for a picture-perfect scenario.
However, not many are aware of its economic growth and establishment. The country flaunts a rich status of gun owners and almost every resident walks down the alley with a silver purse.
The ecstatic evolution in terms of education and economy has driven the state to the list of extremely developed and powerful country in the world. As per the records, Switzerland had a spectacular GDP of USD 81,000 per capita in 2015.
Australia sports a fascinating Human Development Index of 0.939. It has been awarded as the happiest country in the world several times in the history.
The plethora and ecstasy witnessed in the residents widely reflect their comfort and lifestyle. Australia is also one of the most progressive countries in the world.
According to the Better Life Index in association with the Organization for Economic Co-operation and Development, Australia has been proven to own a cheering economic strength as well.
Owing to its huge inclination towards technological advancements, the county has earned a specific position among the top 10 developed countries in the world.
According to the Human Development Index or HDI, Ireland has earned a captivating score of 0.938. It has always set an example in terms of equal pay, brighter opportunities, job prospects for youths, and much more.
It is also known as one of the costliest countries in the world. The expense in Ireland is estimated by the locals to be approximately four times than the cheapest European cities, which makes it economically superior to most.
In 2016, the country was also renowned as the 15th best country in the world. Owing to such great statistical records, it is undoubtedly one of the most developed countries in the world.
Germany is undeniably one of the top 10 developed countries in the world. The name that frequently crosses our mind while thinking about the United States is that of Germany. It not only flaunts an ecstatic economical growth, but also an unbelievable educational progression, which has eventually led the country to become one of the most developed countries in the world.
From technological innovations, to scientific discoveries, and education to corporate prospects, the country has never fallen behind. The rich heritage of the country has marked a huge population as well.
The annual rank list is released in several forms. A country can have the highest HDI but second highest GDP. Hence, the basis on which a country is listed as the most developed nation in the world, is primarily important.
Iceland is one of the prettiest destinations in the world. Besides the scenic beauty, the country is also known for its extraordinary economic growth and human welfare, which has gained considerable attention of the world.
Based on the human development taking place in the recent years, the country exhibits a flattering HDI of 0.935. Due to such great resources and finances, Iceland has been a popular name among the most developed countries in the world.
Hong Kong is undoubtedly one of the most developed countries in the world. It is globally known as one of the most dynamic countries in the world as well.
Hong Kong displays a rich heritage of scientific and technological progression and has also emerged as one of the largest exporters of communication equipment and technological devices. Apart from that, Hong Kong is home to some of the largest industries in the world.
Besides the technical and academical advancement, the country also flaunts stringent constitutional guidelines for the betterment of the citizens. This has also earned Hong Kong a rewarding HDI of 0.933. Thus, it has been acknowledged among the top 10 developed countries in the world.
Giving a tough competition to Hong Kong, Sweden is known as one of the most developed countries in the world. It has exceptional rules for human development, which is why, Sweden also sports a spectacular HDI of 0.933.
Apart from that, Sweden is also reckoned among the leading exporters of automobiles, chemicals, paper products, industrial machinery, iron and steel materials, and many more.
The GDP per capita of Sweden as of 2016 was $46,420. The country has majestically secured a global position by showcasing its post-industrial development and growth.
Sweden is also known for its huge industrial prospects which has opened the job avenues for the growing youths of this generation. Such high economic records and financial strength has earned Sweden the reputation of the best developed country in the world.
Singapore has gained considerable global attention due to its extraordinary economic growth rates. Besides the exponential increase in tourist count post-independence, the country has shown massive development in socio-economic terms.
From being one of the least developed countries to topping the charts of developed countries in the world, the country has indeed come a long way. As per the HDI, Singapore flaunts a rich score of 0.932 which undeniably makes it one of the most progressive countries.
As per the Purchasing Power Parity (PPP), Singapore has also earned the recognition for having the third highest capital per GDP.
Although the country is home to a comparatively scanty population, yet Netherlands has shown praiseworthy progression than the most. The country is blessed with one of the highest annual GDPs than most of the countries in the world.
The speed of economical as well as sociological development in Netherlands is sheer praiseworthy, which makes it shine among the most developed countries list. Flaunting a rich GDP per capita of $48,860, Netherlands has bagged a position among the top 10 developed countries in the world.
Besides, the country is also known for its rich history of development and betterment of it’s citizens, due to which, Netherlands has also flaunted a HDI of 0.931.
The topmost developed country may or may not remain fixed. Any references on the context of the best developed country in the world, decided a decade ago is always counted invalid on the present day.
Wrapping Up Most Developed Countries in the World
One of the prime basis of listing the developed countries in the world is on account of Human Development Index. It not only gives a clearer picture of the social status of the country but also gives a vivid idea of the present economic strength of the country.
HDI also poses distinct information about the living standard of the people residing in the country. It also considers the health care facilities, educational stretch and the prospects of jobs for the growing youth.
The financial strength of any country is determined by the Gross Domestic Product per capita or GDP per capita, based on which, the overall GDP is calculated.