To really understand our list of Top 15+ Most Developed Countries Based on GDP it is important that we first should try to understand what exactly is a developed country. Development of a country is measured in terms of its overall economic stability, industrial development, technological advancements, etc. While there is not any definite way to assess all this, there are good indicators to rank the developed countries in the world like the gross domestic product (GDP), life expectancy, industrialization, literacy level, a standard of living and per capita income.
There is another, more effective indicator to identify developments in any country and that is commonly known as HDI or Human Development Index. This indicator combines most of the indicators mentioned above and gives more reliable information about the development in any country.
To help readers to better understand this topic, our post about 10 most underdeveloped countries in the world can prove to be helpful as well.
Let’s take a look at 16 of the world’s most developed countries in the world…
16. Hong Kong
Hong Kong is not only a tourists land, but it is very stable economically. Per capita income of the country is around $51,000 and HDI is 0.891.
15. South Korea
Slightly better than Hong Kong, we have another Asian land known for its high income. Its GDP might surprise you – it’s $1.6 trillion.
14. The United Kingdom
With HDI of 0.892, United Kingdom is one of the most developed countries in the world. Other things worth mentioning about this great nation is its high standard of living and an amazing $2.3 trillion GDP.
The best thing about SwThe Eden is public-private partnership models which have considered really lowered the unemployment graph and made the country one of the strongest, economically. Per capita income of Sweden is around $41,190 and HDI rating is 0.898.
Iceland is a small country, but it is economically very stable. Its economy is governed by free trade. During the last few decades, business had flourished a great deal here due to business-friendly policies of the government. Iceland has a strong GDP of $12.8 billion.
Ireland is a country whose strong economy is run by service sector and IT industry. Investment in Ireland is pretty fruitful too. It had HDI rating of 0.899 and the quality of life is very high here as well.
Another European country in our list of 16 Most Developed Countries In the World, Denmark relies chiefly on service and human resources. It is not very rich in mineral resources but has a life expectancy of 80 years. HDI rating of Denmark is amazing 0.900.
Singapore was not in this list a few years back but since then it has made some serious progress economically and is quickly emerging as a force to reckon with. Government’s policy here is focused more on trade and the standard of living is pretty high. It has HDI rating of 0.901
One of the wealthiest countries in the world, Canada is at number eight in our list. It has huge oil reservoirs and service and manufacturing industries here are working at full throttle, employing a huge number of staff from abroad. With GDP of $1.5 trillion, Canada has HDI rating of 0.902
7. New Zealand
Probably the most beautiful country in the list, New Zealand mainly depends upon agricultural product and tourism industry. It has HDI of 0.910
The European giant Germany stands at number six in our ranking. It is one of the most industrialized countries in the world. Germany is very rich in all types of minerals. It has HDI of 0.911 & GDP of $3.2 trillion.
5. The United States
United States is one of the most economically stable countries of the world. The production sector here is what mainly drives the economy. Other than that the country is also rich in oil and gas reserves. HDI rating of USA is 0.914
4. The Netherlands
Probably the most prosperous country in the Europe, Netherland chiefly depends upon foreign trade. It was amongst the top three developed countries, but the country was hit badly by the economic crisis and thus its ranking has fallen a bit. Still, it currently has an HDI rating of 0.915
Apart from being one of the most developed, Switzerland is also one of the wealthiest nations of the world. Investors from all around the globe consider Switzerland as the safest place for their assets. It has HDI rating of 0.917 with per capita income of $45,418.
Austria is famous for its natural resources, mining capabilities, and agriculture. One of the worth mentioning thing about this great country is its healthcare structure, which is ideal for any nation struggling to manage its own. Its HDI rating is 0.933
Number one on our list of Top 15+ Most Developed Countries Based on GDP is Norway. It has an amazing HDI rating of 0.944 and GDP of $277.1 billion.